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Thursday, September 26, 2013

Insurers can invest in India Infra debt NCD issue: IRDA

Insurers can invest in the Rs 500-crore non-convertible debenture (NCD) issue of India Infradebt Ltd.

The Insurance Regulatory and Development Authority (IRDA) on Thursday said this issue could be reckoned as an investment in the infrastructure sector.

The decision of the regulator came after an application by India Infradebt seeking approval of the former to recognise the NCD issue as investment in the infra sector.

IRDA, in the amendment to the IRDA (Investment) Regulation, 2000, notified in February this year, stipulated that investments in infrastructure debt funds backed by the Central Government shall be reckoned as infrastructure investment on a case-to-case basis.

Source: thehindubusinessline


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