<Li> Specifying the form and the manner in which books of accounts shall be maintained, and statement of accounts shall be rendered by insurers and other insurer intermediaries . </Li> <P> The Finance Minister of India announced an insurance repository system, helping policyholders buy and maintain insurance policies in electronic form rather than on paper . Insurance repositories, like share depositories or mutual fund transfer agencies, will hold electronic records of insurance policies issued to individuals as electronic or e-policies . </P>

Evaluate the effect of irda on insurance sector in india