IRDAI slaps Rs 10 lakh penalty on SBI Life Insurance Co

Insurance Regulatory and Development Authority of India (Irdai) has imposed a penalty of Rs 10 lakh on SBI Life Insurance Company for violations of various norms, including guidelines on accepting business from a corporate agent after the expiry of licence.

The IRDAI is an autonomous apex statutory body tasked with the regulation and promot in of the insurance and Re-insurance industries in India.

So let’s discuss some questions related to this post:
1. Expand the term IRDAI?
2. IRDAI has imposed a penalty of Rs 10 lakh on which life Insurance Company for violations of various norms

Source – Business Standard


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