homefinance NewsInsurance industry needs to infuse Rs 50,000 crore every 2 years: IRDAI's Debasish Panda
Insurance industry needs to infuse Rs 50,000 crore every 2 years: IRDAI's Debasish Panda
By Yash Jain Jan 20, 2023 2:12:45 PM IST (Updated)
During 2022, there was a number of announcements by the regulator aimed at further driving insurance penetration, enhancing customer centricity and leveraging the growing digitalisation of the industry. However, industry experts also believe that more is to be done.
Debasish Panda, Chairperson at Insurance Regulatory Development Authority of India (IRDA) on Friday said that insurers are contributing significantly to the economy and so we need to focus on doubling insurance penetration. Insurance industry needs to infuse Rs 50,000 crore every 2 years, Panda said in an interaction with CNBC-TV18. He added that he will meet heads of all insurance companies post-March for fund infusion.
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