Ad Here  
September
October
November
December
January
February
 
 
A think tank for Chennai Mu Sigma – is no more Delhi Chalo... Cleaning Ganga – relocate tanneries and install electric crematoria Return to king coal for urea... Welcome changes that testify to Jayalalithaa’s return to health Another Indian music maestro at the UN Lesson from Chandrababu Naidu Build close rapport with business leaders Readers' Mail The rise and rise of KCP Naidu’s return augurs well for Seemandhra Strengthen the base... Making ‘my Amaravati’... Discoms deserve better… The power-full Hindujas Parliament in paralysis... Modi and the lady S V Raju – a ‘good’ true liberal Haul over the coal Multi-faceted Venkat Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Air Asia India will set new benchmarks for budget travel Editor's Says Kulandai was a giant Kudos to NDTV... Boy, can you beat these? Quality silica from Neyveli Odisha: spectacular win by Naveen Patnaik The nuclear option Delhi is distant… F C Kohli - his concerns all embracing Why land prices zoom in TN? Plummeting profits of PSBs Poor quality of university VCs Music happens Inflation: are we emulating Argentina and Brazil? GNS - 100: our first subscriber This scant respect for Law When small is no larger beautiful.. Building loyalty through the stomach Not just in-laws (and outlaws); they’ve renowned academics at the helm! Preserving for the future Colour-Chem’s colourful KRVS West Bengal: mindless malignancy There was flood of milk. Reason: no milk commissioner! He continues the focus on social amelioration When TN politicians can emulate Kerala's Maximising the micro pricing … Diamond jubilee of Egmore Samskrt School Come elections, come advertisements... CSR and CMI: promise of another Srinivasan Ramanujan... MHC should not return to its old indisciplined ways Sweet news for TN sugar mills Don’t seem to feel the pulse… Banning booze... Streamlining mandatory third party cover CII projects higher growth… Silver Years of Madras Musings Permanent secretariat for TN GIM Welcome GST Delhi returns to BJP Medical costs hit the roof... Dr C Rangarajan returns to Chennai Towards speedy justice Things happen by accident and not by design... Liberal imports idling indigenous capacities Shale gas and its shallow future More tributes to GR Lalu’s envy, India’s pride Auto components surge… to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Alexa – Talking Wikipedia S Ramanathan – a versatile musician, musicologist Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated When the President was rendered homeless… Naidu will soon build a new Hyderabad Shaming of Tamils by Tamil farmers at Delhi Scientists urged to take up farmer-oriented research Whistle-Stop Tour of Raghuram Rajan The ‘Jayanthi Tax.’ The Gulf aviation boom Five star activism stalls development activity TN accounts for the largest recruits by the IT sector Shanti and Sadhana through Music Computation of GDP – conundrums continue IAS invades NDDB... More Shakti to resource mobilisation... TN – agglomerate land holdings without alienating ownership No mega rail project for Tamil Nadu Road development slows down Moily’s bold thrust Gay abandon in pricing Insurance companies bleeding, yet no decision on increasing FDI limit! Tribute – UCAL Selvan… Recognition to role of NBFCs.... Funding the un-funded Tax agriculture PPP mode for upgrading Corporation Hospitals Telangana in top gear… Solar, solar everywhere … Reliance’s TV – 18 ready to launch Tamil News Channel Which side are you, Montek? Adharma of opposition politics TELANGANA at last…BUT A C Muthiah – his munificent bequeaths to science A Grand Finale for SN’s MS centenary at the US… Protest masters... …and of a popular trade leader Solar thermal shines… Excel Generators provide the vital back-up The Ports’ Pasha expands into Tamil Nadu Align crops to agro climate endowments… When nations steal growth from one another… All eyes on Sankara Nethralaya Demise of a media baron... Where a state respects its litterateurs… Like Hinduism: many paths to reach God... Contrarian cousins Secularism and anti-Hinduism Vibrant Gujarat The Swadeshi Trump Rs.1600 crore paper board plant of TNPL Online not in line with brick and mortar businesses... WTO Meet: resolved to meet again Cutting the nose to spite the face Make standards certification mandatory... Valli, they are more marginalised When online building permits work…. New IT products of Ramco in the pipeline… No engine for this car Cement prices continue to rise… CIPET hqrs to stay at Guindy – for the present? A Grand Finale for SN’s MS centenary at the US… More heat than light An informal presentation - analytical, forward locking... Poor representation for Kerala and TN in Cabinet Limit foreign borrowings to hi-tech, export potential projects... Padma Bhushan for A Ramakrishna Fuel for thought The star of Spencers is no more He saved millions from starvation... B H Kothari - a tribute Adapt Vajpayee dinner diplomacy R Sridhar steps down as CEO of Shriram Capital Robber barons everywhere Pharma – overdose of copying Remembering Indira Sivasailam... Wise Presidents Breaththrough in malaria control The few handicaps... An enemy’s enemy is a friend The sea- saw battle continues... Rahman at CIC Tough task taking states together L&T: focus on infrastructure and more infrastructure… Bihar – Nitish Kumar adopts the Lalu model A glass full of corruption An inexplicable neglect The rise and fall of Annamalai University Land reclamation from sea appears cheaper! Sweeter prospects for sugar Intellectual of rare qualities Godspeed, Chief Minister JJ Focus on quality of power - its only around 170-180V Tribute – Manikam Ramaswami Increasing non co-operation of state leaders China invests in India Tribute No Maha Koottani in TN... Bihar elections - the Rajaji formula worked When Ratan Tata visited SRM How Air-India loses customs... Of course, Gujarat is vibrant Nuclear power at the nucleus Polls and promises A professional at the helm of IRDA... Welcome thrust on trade in Modi’s foreign visits... GM Technology at last! Airlines in India: cost and space Wanted: a second airport for Chennai IPL - no surprise this scam Quality education through the PPP mode For whom the bell tolls? TIAM turns a full cycle Waning interest in public discussions… Tatas moving out of urea production... A rich pool of talent not utilised…. L&T- the specialty of special purpose vehicles Gas is the way forward Welcome focus on core competence EEC at the National Media Centre Marketing expert Balagopal is no more Convulsions in The Hindu IPL type auction for VCs? Revving up the manufacturing sector Delhi is distant Revive development banks... Modi storms Silicon Valley PC’s preference for professionals Kinetic Karnataka A proud Madrasi CRS, a jewel among managers, is no more. A more liberated TN… Measuring roof tops in terms of KW/MW Put expensive assets created to use... Tribute – M V Murugappan For whom the MIDS bell tolls? The ‘Ayyo-yes’ is no more A yen for wastage… Muffled voices for merit… ONGC at KG Basin Why this malaise in medical education? London, London Narayan Shipping woes of Chennai companies Paytm karo... Roaring Ro-Ro facility Eternal support for capitalisation of PS banks Engineering seats go abegging SoA @ 80 TN-leverage strength of BHEL, NLC... Sri Lanka votes for change Fortune 500 review Mersal magnified Tihar, Puzhal not different from Parappana Agrahara Noble nonagenarians... A friendly business group The balancing act The brown list of Venkitaramanan The why of tax incentives Fall in crude prices help in oil sector reform More Shakthi to Das’ elbow Small units prefers to remain small... EVM is tamper-proof Tatas moving out of urea production... Editor's Notes The Jan Dhan bonanza Where is Rajaji? A welcome initiative by the judiciary Fortune for Indian Airlines Should we change the official year? Russi Mody – a tribute TGS- The king storyteller Infrastructure funding – lessons learnt
 
A professional at the helm of IRDA...
THE DECISION of Finance Minister P Chidambaram to appoint T S Vijayan as Chairman - IRDA, breathes a lot of fresh air. Vijayan brings with him four decades of experience in life insurance. He had headed LIC with distinction. He can now attend with speed to several of the issues demanding serious reforms.

It required same special effort to break the dominance of the Indian Administrative Service in cornering plum posts post-retirement. But then PC has this in good measure. Incidentally, N Rangachari ( a chartered accountant and an IRS officer) worked hard to formulate the guidelines for regulation and development that led to the establishment of IRDA. Rangachari headed IRDA with distinction and paved the way for opening up the sector for both life and general insurance.

Rangachari’s successors (all retired IAS officers) in their limited tenures, did not show much understanding of the complexities of this highly evolved business. This resulted in intense rate wars and unethical practices that could not be regulated. IRDA has failed to tackle myriad issues. Reforms like increasing the share of foreign investors could not take place. The result: general insurance companies bled, incurring heavy losses on motor and health insurance. For the four PSU companies, profits came from investment income and not from the core business of insurance. This comfort was not available to the private players. In fact a few of these are sitting ducks for acquisition.

Insurance penetration is still low. Nearly twelve years after opening up, there has not been widespread awareness on the need for insurance cover. An estimate puts that a majority of vehicles ply without the mandatory third party insurance cover. The database is weak. Vijayan, one hopes, will focus equally on the development aspects of IRDA as much as on regulation.

Reported On :
Sector :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com