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SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
UPDATED TILL : 21-NOV-2024

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): EXCEEDED PERMISSIBLE LIMITS ON EXPENSES OF MANAGEMENT UNDER SECTION 40A (3) OF INSURANCE ACT,1938

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person INDUSIND BANK LTD.  
  RECEIVED PAYMENTS APART FROM/OVER AND ABOVE THE PERMISSIBLE COMMISSION RATES FROM INSURANCE COMPANIES IN FORM OF “DATABASE SHARING/INCENTIVES TO EMPLOYEES OF CORPORATE AGENT AND INFRASTRUCTURE SETTING UP COSTS”   IMPOSED PENALTY RS.15,00,000

03-JUL-2012 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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