The new Insurance Act, which is currently before Parliament, will seek to address this issue by requiring that every insurance company involved in general insurance carry a full-time actuary who will certify the adequacy of claims reserves.
Similarly the reverse repo rate was reduced by 275 basis points from 6.0 per cent to 3.25 per cent. Provision of Rupee liquidity •  The Cash Reserve Ratio (CRR) was reduced from 9% to 5% of Net Demand and Time Liability (NDTL). The cumulative reduction in the CRR by 400 basis points since mid-September 2008 released Rs.1.6 trillion of primary liquidity.