IRDAI directs SBI Life to refund Rs.275 crore excess commission

Directing private life insurer SBI Life Insurance Company Ltd. to refund excess commission of Rs.275.29 crore to policy holders, the Indian insurance regulator Friday reiterated that it has necessary powers to pass such an order under the Insurance Act. In a letter to SBI Life, the chairman of Insurance Regulatory and Development Authority of India (IRDAI) T.S. Vijayan directed the insurer to i ... Read More

http://www.vishwagujarat.com/business/irdai-directs-sbi-life-to-refund-rs-275-crore-excess-commission/

for  more details    http://www.vishwagujarat.com