IRDA starts operations from Hyderabad

By Our Banking Bureau | 26 Apr 2002

1
Hyderabad: The Insurance Regulatory Development Authority (IRDA) has formally commenced its (partial) operations from Hyderabad.

The operations of its actuarial department took off under the aegis of IRDA chairman N Rangachari from the temporary premises at Parishram Bhavan. Captains of various banks, financial institutions and insurance companies were also present on the occasion.

IRDA, which is awaiting clearance of certain critical bills on the insurance sector, plans to shift its entire operations to the city by June 2002, Rangachari said.

With the Andhra Pradesh Industrial Infrastructure Corporation acting as the nodal agency, IRDA is scheduled to shift its operations to its permanent premises in the proposed financial district, coming up in Cyberabad here, during the first half of the next fiscal year.



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