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Mukherjee meets IRDA officials, discusses investment plans


April 4, 2012 - New Delhi

Finance Minister Pranab Mukherjee met officials of the Insurance Regulatory and Development Authority (IRDA) here on Wednesday and discussed a wide range of issues, including investment plans.

Mukherjee met the board members of IRDA and members of the other committees set by IRDA.

"I had a meeting with the chairman and members of the board of IRDA and chairman of some of the committees, which have been set up by IRDA to look after the different aspects. I had an interactive session with them," he said.

Mukherjee said that his meeting with the officials of IRDA was productive.

"With the establishment of the IRDA, we have charted a new course of action and a detailed presentation was made. I have also shared my perceptions with them and it was a very useful and fruitful discussion," he said.

According to media reports, IRDA has urged for revision in the tax reforms proposed in the budget, in order to make insurance accessible for middle-aged and senior citizens.

India, which opened up its insurance sector to private and foreign players in 2000, caps foreign holding at 26 percent in these companies.

ANI

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