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The Financial Express, By:  PTI |  Published: January 19, 2018 The final reinsurance regulations are due by the end of February, Insurance Regulatory and Development Authority of India (IRDAI) Chairman T S Vijayan today said. “The reinsurance regulations are coming by February end,” Vijayan, who is retiring in the end of February, told reporters here at FICCI Annual Insurance Summit. The regulations will define the business in India and the order of preference, he added. When asked about what regulations are expected, he said life insurance product regulations are in the pipeline but will take some more time. “Comments are coming in and we have to analyse them and see that it complies with the international standard, which will also suit our country profile. It is going to take some more time,” he added. On foreign companies showing interest in entering the Indian market, the regulator said there are four or five that have applied for licenses and have...

The Economic Times, BY BLOOMBERG | JAN 26, 2018 By Julie Verhage  As Wall Street worries about someday going up against the "Bank of Amazon," recent moves by the online shopping Goliath indicate it's already going in that direction overseas.  In places like India and Mexico, Amazon.com Inc. is offering unique payments services and actively approaching finance-technology startups for investments and acquisitions, according to a research report by CB Insights set to publish Thursday. In India, Amazon has a doorstep cash-pickup service that lets customers load money into a digital wallet. It has also acquired or invested in several startups there, including Emvantage Payments and BankBazaar. In Mexico, Amazon has a cash payment service meant to be an alternative to a credit or debit card. The finance industry is fixated on the idea of Amazon and other technology companies wading into their territory. Keith Noreika, who was acting head of the U.S. regulator ...

The Financial Express,  By:  FE Bureau | New Delhi |  Published: January 27, 2018 The income tax appellate tribunal (ITAT) has upheld the arm’s length price (ALP) adjustment against Vodafone India Services by the income-tax department. However, the Ahmedabad bench of the tribunal said that the department needed to modify the order that attributed Rs 1,588 crore as business income to the assessee and recalculate the liability of the firm under capital gains. The transaction in question is: Vodafone India Services had the right to buy entire equity capital of SMMS Investment Pvt Ltd — which held 5.11% equity capital of the assessee through a web of holdings — for Rs 2 crore. In effect, the assessee had a right to buy 3.15% equity in Vodafone India for Rs 2.78 crore as long as fair market value (FMV) of these shares was less than Rs 1,500 crore. According to the agreement, even if the FMV was more than Rs 1,500 crore, the assessee was to pay marginally more for bu...