Dematerialization of Ins. Policies and ESCROW A/c
Dematerialization of Shares and Escrow Account for IPO Money were some of the reforms that cleaned up the share markets and made it strong in India. Similar reforms, I guess are needed in the Insurance Sector particularly in the Life and health Insurance Sectors. Some unscrupulous Insurance companies are spoiling the system - by delaying issuance / refunds. Attention of IRDA and Insuarance Ombudsmen in these matters must brought in. more
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The issue I raised was not about cash or cashless in general. But very specific to Insurance Policies. Unless an efficient market is created in the insurance sector, we will be destroying this sector. Insurance is a contract in 'Good Faith'. If there is no faith - no insurance and no insurance market. The UPA government just issued licenses for insurance companies without ensuring a proper market place. that is fine - history. many are just flipping 'paper assets'. That is bad for the sector. If insured in general does not trust the sector players - it will do no good. The regulator - like in telecom - has not been of any major use , I guess. They do not even entertain customer complaints. One day - I think Supreme court will intervene. that is where it is going. But what a loss of opportunity lost in creating social security net for a growing economy. How will Insurance IPOs will even survive in these markets - unless careless mutual fund managers comes to the rescue. LIC is an exception though. more
Jun 11
why till now air ticket, gold / silver sale / property sale / vehicle sale / Malls not been made cashless? This govt has no policy. only drama. more
Jun 10
this is a consumer driven economy.... if the buyers want the system to be cashless... it will be... Its been years that I am doing most of the stuff in a cashless manner... and never had a problem. more
Jun 13
Most of the population is yet to become experts in adopting to cashless system. more
Jun 10
