Much awaited IRDAI Circular dt 4.8.2023 on HDFC merger
Much awaited Relaxation Circular dated 4.8.2023 of IRDAI on Insurers Investments in HDFC Ltd
Today the IRDAI issued the Circular dated 4.8.2023 that the bonds / debentures held by the Insurers in HDFC Ltd on 4.4.2022 (announcement date of merger) under the category of “Housing and Infrastructure” shall be treated as investments till maturity.
Exemption to the Insurers from compliance of single investee equity exposure norms under Regulation 9B of IRDAI (Investment) Regulations, 2016 read with Regulation 7(a) of IRDAI (Investment) Regulations, 2016 with respect to the shares of HDFC Bank (post-merger) till 30.6.2024 applicable to the holders of the respective insurers as on 30.6.2023.
Relaxation for insurers’ investments in HDFC Ltd. post merger with HDFC Bank Ltd.pdf
