{"id":327522,"date":"2025-02-22T18:38:30","date_gmt":"2025-02-22T13:08:30","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=327522"},"modified":"2025-02-24T09:58:44","modified_gmt":"2025-02-24T04:28:44","slug":"dinesh-khara-committee","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/dinesh-khara-committee\/","title":{"rendered":"Dinesh Khara Committee"},"content":{"rendered":"<p><strong>News:<\/strong> Insurance Regulatory and Development Authority (IRDAI) has set up a high-powered committee led by Dinesh Khara, former Chairman of the State Bank of India (SBI).<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-327635 aligncenter\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/02\/Dinesh-Khara-Committee.png?resize=571%2C379&#038;ssl=1\" alt=\"Dinesh Khara Committee\" width=\"571\" height=\"379\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/02\/Dinesh-Khara-Committee.png?resize=300%2C199&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/02\/Dinesh-Khara-Committee.png?resize=1024%2C680&amp;ssl=1 1024w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/02\/Dinesh-Khara-Committee.png?resize=768%2C510&amp;ssl=1 768w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/02\/Dinesh-Khara-Committee.png?w=1280&amp;ssl=1 1280w\" sizes=\"auto, (max-width: 571px) 100vw, 571px\" \/><\/p>\n<h2><strong>About the Dinesh Khara Committee<\/strong><\/h2>\n<ul>\n<li>The <strong>Dinesh Khara Committee<\/strong> is a <strong>high-powered committee<\/strong> formed by the <strong>Insurance Regulatory and Development Authority of India (IRDAI)<\/strong> to review the <strong>Insurance Act, 1938<\/strong> and suggest necessary amendments.<\/li>\n<li><strong>Aims:<\/strong> It aims to align the Act with <strong>modern insurance industry needs<\/strong> and <strong>boost foreign investment<\/strong>.<\/li>\n<li><strong>Purpose of the Committee<\/strong>\n<ul>\n<li>To <strong>scrutinize<\/strong> various aspects of the <strong>Insurance Act, 1938<\/strong>.<\/li>\n<li>To recommend <strong>amendments<\/strong> to improve <strong>insurance penetration<\/strong> and attract investments.<\/li>\n<li>To align <strong>insurance laws<\/strong> with modern economic and regulatory requirements.<\/li>\n<li>To support the government\u2019s proposal of <strong>allowing 100% foreign direct investment (FDI)<\/strong> in the insurance sector.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Members of the Committee:<\/strong> The seven-member panel includes:\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><strong>Dinesh Khara<\/strong> \u2013 Former Chairman of <strong>State Bank of India<\/strong> (Chairperson of the Committee).<\/li>\n<li><strong>NS Kannan<\/strong> \u2013 Former MD &amp; CEO of <strong>ICICI Prudential Life Insurance<\/strong>.<\/li>\n<li><strong>Girish Radhakrishnan<\/strong> \u2013 Former CMD of <strong>United India Insurance<\/strong>.<\/li>\n<li><strong>Rakesh Joshi<\/strong> \u2013 Former Member of <strong>IRDAI<\/strong>.<\/li>\n<li><strong>Saurabh Sinha<\/strong> \u2013 Former Executive Director of <strong>RBI<\/strong>.<\/li>\n<li><strong>Alok Misra<\/strong> \u2013 MD &amp; CEO of <strong>MFIN (Microfinance Institutions Network)<\/strong>.<\/li>\n<li><strong>L Vishwanathan<\/strong> \u2013 <strong>Legal expert<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><strong>Key Recommendations\u00a0<\/strong><\/h2>\n<ul>\n<li><strong>Increase in FDI Limit<\/strong>: Allow <strong>100% foreign direct investment (FDI)<\/strong> in the insurance sector.<\/li>\n<li><strong>Composite Licences<\/strong>: Permit insurers to operate in multiple insurance categories under a single licence.<\/li>\n<li><strong>Differential Capital Requirements<\/strong>: Adjust capital requirements based on business size and risk exposure.<\/li>\n<li><strong>Reduction in Solvency Norms<\/strong>: Modify solvency margin requirements to improve insurer efficiency.<\/li>\n<li><strong>Captive Licences<\/strong>: Introduce captive insurance licensing for businesses to self-insure risks.<\/li>\n<li><strong>Investment Regulations<\/strong>: Review <strong>investment and repatriation<\/strong> rules for foreign insurers.<\/li>\n<li><strong>One-time Registration for Intermediaries<\/strong>: Simplify regulatory processes for insurance brokers and intermediaries.<\/li>\n<li><strong>Distribution of Financial Products<\/strong>: Allow insurers to sell other financial products.<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\"><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: Insurance Regulatory and Development Authority (IRDAI) has set up a high-powered committee led by Dinesh Khara, former Chairman of the State Bank of India (SBI). About the Dinesh Khara Committee The Dinesh Khara Committee is a high-powered committee formed by the Insurance Regulatory and Development Authority of India (IRDAI) to review the Insurance Act,&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/dinesh-khara-committee\/\">Continue reading <span class=\"screen-reader-text\">Dinesh Khara Committee<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":327635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,12039],"tags":[11872,10500],"class_list":["post-327522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-factly-articles","category-economy","category-knolls","tag-9pm-daily-factly","tag-indian-express","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/02\/Dinesh-Khara-Committee.png?fit=1280%2C850&ssl=1","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/327522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=327522"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/327522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/327635"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=327522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=327522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=327522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}