Finance
IRDA takes over Sahara Life administration
The IRDAI has taken over administration of Sahara India Life Insurance, a firstof-its-kind move in the insurance sector. It has named IRDA General Manager R K Sharma as administrator to manage the affairs of the insurer. "The IRDA has reasons to believe that Sahara India Life Insurance Company is acting in a manner likely to be prejudicial to the interests of holders of life insurance policies," IRDA Chairman T S Vijayan has said. Sahara was the first, Indian-owned, life insurance company to launch operation in the private sector in 2004.
HDFC buys stake in Tanzania's First Housing
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