IRDAI imposes ₹50 million fine on Policybazaar for regulatory violations:

IRDAI imposes ₹50 million fine on Policybazaar for regulatory violations:

Daily Current Affairs   /   IRDAI imposes ₹50 million fine on Policybazaar for regulatory violations:

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Category : Business and economics Published on: August 07 2025

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The Insurance Regulatory and Development Authority of India (IRDAI) has fined PB Fintech’s online insurance marketplace, Policybazaar, ₹50 million for lapses including non-compliance related to directorships held by key managerial personnel, tagging of policies, and premium remittance. The action follows a 2020 inspection and a show-cause notice issued in October 2024. After reviewing submissions and holding hearings, IRDAI finalised the penalty on Monday.

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