STAKEHOLDER CONSULTATION
IRDAI overhaul may force insurance brokers to rethink deal valuations
The Insurance Regulatory and Development Authority of India has suggested regulatory changes that may significantly affect insurance brokerage firms. With compliance costs rising and commission limits introduced, smaller brokers might consolidate to survive. Notably, Alliance Insurance Brokers is contemplating a stake sale, while InsuranceDekho and RenewBuy eye initial public offerings.
Physical AI startups moot industry body to set data-collection standards
The proposed body could also help AI labs connect with various farms, factories, hotels and other real-world environments from where they can access and collect data needed to train robots at a fixed rate, one of the founders said.
8th Pay Commission calculator: What can Level 6-8 salaries be at 2.0, 2.15, 2.28 and 2.57 fitment factors?
8th Pay Commission news: The 8th Pay Commission is set to begin discussions in Bengaluru starting October 7, focusing on employee salaries and related issues. Various government departments are tasked with gathering employee data to aid in compiling a comprehensive report. Early recommendations indicate potential fitment factors that could boost minimum salaries considerably. These suggestions will also influence pension adjustments for government employees.
Reducing commissions may help curb mis-selling of insurance products; IRDAI’s role remains crucial
The Insurance Regulatory and Development Authority of India has announced new proposals to limit commission rates for insurance distributors. This move seeks to tackle high distribution costs, ultimately enhancing the policyholder experience. By implementing reforms aimed at fostering customer-centric practices, the initiative aims to curtail the mis-selling of insurance products. Insurers must align their compensation methods with the value delivered to customers.
Karnataka gig workers seek implementation of welfare schemes
In a letter to the board’s chief executive officer, Indian Federation of App-based Transport Workers (IFAT) and Karnataka App-based Workers Union (KAWU) sought immediate rollout of health and accident insurance, income support during medical emergencies and temporary disablement, maternity benefits, scholarships for children of platform workers and an emergency distress fund.
Sebi examining position limits for non-agri contracts to boost liquidity
Sebi is actively investigating position limits for non-agricultural contracts to improve market liquidity and depth. Chairman Tuhin Kanta Pandey has highlighted the importance of phased physical settlement for agricultural commodities. The organization is focused on addressing structural issues and increasing technology integration in commodity markets. Furthermore, Sebi plans to expand its educational outreach through Project Jagrook to better inform market participants.
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Airlines need to cut 265 weekly international flights connecting Mumbai airport from Oct 25: Sources
Mumbai's international airport will cut 265 weekly flights from October 25 as Terminal 1 undergoes redevelopment. The airport operator plans to allocate vacated international slots to domestic airlines transitioning from Terminal 1 to Terminal 2. Several airlines, including IndiGo and Air India, will have to reduce their overseas flight numbers significantly. IATA has expressed concerns over the transition framework for moving operations to Navi Mumbai airport.
ASCI issues AI labelling guidelines for ads, rules to take effect in three months
ASCI’s new AI advertising guidelines require disclosure of synthetically generated content (SGC) when hiding its AI origin could materially affect how consumers understand or act on an advertisement. The rules take effect three months after publication.
Make JPC do its job on FCRA Bill: KC Venugopal to Om Birla
KC Venugopal, a Congress MP, has raised alarms over the Foreign Contribution Amendment Bill, questioning the lack of sufficient stakeholder consultations by the joint parliamentary committee. With hints that the government aims to push the bill through in the winter session, Venugopal has called on Speaker Om Birla to delay any further consideration until a complete review and adequate stakeholder input is ensured.
Akhilesh Pathak assumes charge as Director (Projects) POWERGRID
Akhilesh Pathak has taken charge as Director (Projects) of Power Grid Corporation of India. He graduated in electrical and electronics engineering and joined POWERGRID in 1993 as an Executive Trainee. With over 32 years of experience, Pathak has worked extensively in project management and execution within the power sector. He has been critical in achieving significant capital expenditure utilization during his tenure in various leadership roles.
NEP, Ayushman Bharat excellent examples of policymaking: NCERT textbook
The new NCERT Social Science textbook emphasizes important policies introduced by the Modi government. It details the development of the National Education Policy through extensive public consultation and expert advice. Additionally, the textbook covers Khelo Bharat Niti, focusing on implementing sports policies at various levels. The Ayushman Bharat Scheme is presented as a vital health insurance program for low-income families.
NHAI to conduct special quality checks on 17 highway projects with bids 15% below estimate
NHAI to begin special quality inspections for 17 under-construction National Highways projects due to their substantial cost discounts. These inspections are in addition to regular quality checks intended to identify construction issues early. A second round of inspections will take place after six months to verify quality and progress. The selected projects encompass various states and include significant infrastructural developments.
Repeated hospital trips, costly AC travel: Supreme Court pushes for railway concessions for acid attack survivors
Supreme Court has asked the Department of Empowerment of Persons with Disabilities to participate in framing a policy for railway travel concessions for acid attack survivors who need frequent trips to specialised hospitals. The Centre has agreed in principle to provide the concession and proposed including eligible survivors under the existing ‘patient category’. The court will consider the matter further after the draft policy is placed on record.
New steel policy draft ready, to set 2047 road map: Secretary
The government is revisiting the current national steel policy 2017 to address major changes in the sector in the past decade including AI, machine learning, technology upgradation, decarbonisation and greater policy focus on sustainability.
India to soon release new steel policy, eyes 600 million tons capacity by 2047, secy says
India's government will soon unveil a new national steel policy aimed at boosting steel production. The production capacity is expected to reach 600 million metric tons by 2047. This policy will emphasize premium products and reducing imports to strengthen the domestic market. A separate policy on steel scrapping is also being discussed among various ministries.
Survey by SC-appointed task force finds nine per cent students experienced suicidal thoughts
A survey conducted by the Supreme Court-appointed panel found that 15 percent of students felt overwhelmed recently. Nine percent reported experiencing suicidal thoughts, indicating urgent mental health concerns among students. Many students expressed feelings of being outsiders on campus, particularly among marginalized groups. The panel's recommendations aim to improve student support systems and mental health services across institutions.
Labour ministry to launch Labour Codes awareness campaign: Mansukh Mandaviya
Speaking at the National Conference on Industrial Relations and Labour, organised by the Confederation of Indian Industry on Monday, Mandaviya said the campaign, which starts from Monday, will cover industrial clusters across 316 districts in all 36 states and union territories over the next 90 days.
Exam reforms: Nilekani-led panel consults ex-ISRO chief who headed Radhakrishnan Committee
The Nandan Nilekani-led high-level task force is currently consulting various stakeholders on exam reforms. This task force was formed following the controversies surrounding recent NEET paper leaks. It aims to recommend comprehensive reforms to enhance the security and transparency of examination processes. The previous Radhakrishnan Committee's recommendations are being studied to prevent future leaks. The task force continues its discussions with experts from various educational and governmental backgrounds.
JPC on FCRA Amendment bill to hold second meeting tomorrow
The Joint Parliamentary Committee is preparing for its second meeting to discuss the Foreign Contribution (Regulation) Amendment Bill, 2026. Members will receive briefings from officials of the Ministries of Home Affairs and Law and Justice. Stakeholders, including the State Bank of India Chairman, will also share their views during the meeting. Previous discussions have focused on compliance and transparency in foreign funding by NGOs and other entities.
Bank strike deferred after IBA-UFBU talks: Why was it deferred and what happened to five-day working week demand
In a recent meeting held on September 27, the Indian Banks' Association and the United Forum of Bank Unions engaged in crucial talks about an impending bank strike. While the three-day nationwide strike was postponed rather than cancelled, both parties have committed to establishing a high-level committee.
Irdai commission caps put insurance distributors' renewal income in focus
Insurance distributors are expected to write to the regulator on this issue as part of their submissions to IRDAI's consultation paper, sources said. The issue assumes significance because applying the new caps to the existing book could reduce distributors’ future renewal income rather than limit the impact to policies sold after the regulations take effect, they added.
More insurance, less salesmanship: IRDAI proposed commission caps are needed
IRDAI’s proposed caps on distribution commissions may face industry resistance after removal of earlier caps. The aim of the proposal is to push more funds into coverage rather than commissions to address issues of mis-selling. Disentangling the incentive structures into discrete components is a genuine requirement. Insurers with lower costs are expected to benefit. This will shape industry feedback to IRDAI's consultation paper.
Insurance mis-selling is arising because upfront commissions are too high: IRDAI chairman Ajay Seth
IRDAI chairman Ajay Seth said insurers should pass savings from lower commissions and operating costs to policyholders through lower premiums, better returns or improved claims payouts. The regulator’s proposed tighter limits on commissions and expenses aim to improve affordability, curb mis-selling and reduce compulsory bundling.
Insurance mis-selling is arising because upfront commissions are too high: Ajay Seth, Chairman, IRDAI
The benefit of cost efficiency should be passed on to customers. This entire exercise is intended to ensure that the public and policyholders benefit. For a life insurance savings product, the outcome should be better returns. In general insurance, it should result in better claim ratios. Cost efficiencies should get passed on through lower premiums, or the rate of increase in premiums should be moderated, or returns on savings products should be better than they are today, says Ajay Seth.
Govt, private hospitals likely to be graded on quality & safety
Niti Aayog is developing a national quality framework for public and private hospitals, aligned with international standards, to help patients compare hospitals and improve healthcare quality. The framework will include patient safety, clinical outcomes, readmission rates, medication errors and specialty-specific indicators such as survival and mortality rates.
AI171 crash probe: Pilots' grouping FIP seeks formal consideration of its tech submissions before final report
Federation of Indian Pilots has requested the civil aviation ministry for formal consideration of its technical submissions. This request pertains to the ongoing investigation into the AI 171 plane crash that occurred in June 2025. The investigation by the Aircraft Accident Investigation Bureau is nearing completion but awaits formal reviews. The submission calls for the Federation’s involvement as an independent technical participant in the draft report.
Govt starts consultation to develop indigenous chips, modules for power grids
According to details shared by MeitY on its website, the initiative aims to build domestic capability across the power semiconductor value chain - device design, module engineering, fabrication, packaging, assembly, testing, qualification and system integration.
PM Modi holds ministers' camp for mid-term stocktaking of work
The broader themes identified include governance, Jan Vishwas se Jan Aadhaar, delivery, women, youth and effective communication. The remaining themes are expected to be taken up in the next round of the exercise on September 30 and October 1.
IBBI allows liquidators to modify stakeholder list on new information
Under the earlier regime the liquidator could not change this list independently and had to apply to the Adjudicating Authority- usually the National Company Law Tribunal (NCLT)- for modifications.
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