Insurance Regulatory and Development Authority of India slapped fine of Rs. 35 Lakhs to M/s Bharati Axa General Insurance Co. Ltd.

IRDAI of India slapped fine of Rs. 35 Lakhs to M/s Bharti Axa General Insurance Company for violating various rules issued by Regulator. For improving functional activities of Insurers and protecting interest of policy holders IRDAI always do some activities like inspection of insurers and attending complaints of policy Holders. Insurer instructed to deposits above amount within 15 days to IRDAI given bank account from debiting shareholders’ account of general insurer.