Irdai eases firm registration process from 8 to 2 months: Chairman

"Thereby, we are moving from a rule-based regulatory regime to a principle-based one," Panda said

The registration process of new companies has been eased by substantially reducing the time taken to process new applications from 6-8 months to two, Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai) said on Wednesday.

The regulator has created a facilitation cell consisting of two officers for handholding the applicants so that the entity gets its approval to start its operations. “We have put up a guidance document to make it easier for new applicant so that there is room for an additional query,” Panda said speaking at a CII event.

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