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SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
UPDATED TILL : 30-SEP-2026

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

INSURANCE AGENT (CORPORATE): VIOLATED IRDAI (INSURANCE ADVERTISEMENTS & DISCLOSURE) REGULATIONS, 2021

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person INDUSIND BANK LTD.  
  DID NOT ISSUE RENEWAL NOTICES TO CUSTOMER AS PER REGULATORY REQUIREMENT

DID NOT HAVE GRIEVANCE REDRESSAL MECHANISM AND DID NOT PROVIDE ANY OPTION FOR POLICY HOLDER TO LODGE COMPLAINTS

DID NOT MAKE DISCLOSURE TO IRDAI OF PENALTIES IMPOSED BY REGULATORY BODY AND/OR GOVERNMENT BODIES

DID NOT MAKE DISCLOSURE OF REGISTRATION NO. GRANTED BY IRDAI ON WEBSITE

DID NOT GIVE ADEQUATE PUBLICITY AND VISIBILITY ON WEBSITE REGARDING ROLE AS CORPORATE AGENT OF LIFE AND GENERAL INSURERS   		IMPOSED PENALTY RS.1,00,00,000

CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

10-SEP-2026 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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