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Removal of Ceiling for Investment in Money Market Instruments
As per Circular No. 21/IRDA/ACTL/ULIP/OCT-08, dated 27th October 2008, the IRDA has withdrawn the 40% ceiling for investing in Money Market Instruments as defined under 2(CC) of IRDA (Investment) (Fourth Amendment) Regulations, 2008. Keeping this in mind, the 40% ceiling for investing in Money Market Instruments has been removed.We are making this move in order to mitigate the risk of extreme volatility in the short term more efficiently.