Finance
Mr. BillionhairReliance General Insurance Slammed with ₹1 Cr Penalty – Wow!
Big news, folks! IRDAI just hit Reliance General Insurance with a whopping ₹1 crore penalty! They broke the rules—huge violations! Over ₹5 crore to Glitterbug Technologies? Unbelievable! Payments to agents? Total disaster! They’ve got 90 days to clean it up. I told you so! It’s a mess, folks! Sad!
few days ago | BS Reporter
Quick rundown
1.Irdai slaps ₹1 crore penalty on Reliance General Insurance.
2.Violations include payouts to Glitterbug Technologies and an Oriental Insurance agent.
3.Unlicensed payments made to Suvidhaa Infoserve for marketing services.
4.Additional payments to Aditya Birla Housing Finance and IndusInd Bank flagged.
5.Reliance must report action taken to Irdai within 90 days.
