IRDAI fined PB Fintech ₹5 crore on August 5, 2025, for regulatory violations.
IRDAI fined PB Fintech ₹5 crore on August 5, 2025, for regulatory violations.
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The fine is one of the most serious actions against an insurance aggregator
The fine is one of the most serious actions against an insurance aggregator
Penalty was levied under Section 102 of the Insurance Act, 1938.
Penalty was levied under Section 102 of the Insurance Act, 1938.
Policybazaar failed to maintain key records like KYC and logs.
Policybazaar failed to maintain key records like KYC and logs.
Policybazaar allegedly ranked insurance products based on commercial ties.
Policybazaar allegedly ranked insurance products based on commercial ties.
IRDAI emphasized transparency and fairness in digital insurance sales.
IRDAI emphasized transparency and fairness in digital insurance sales.
Policybazaar acknowledged the order but hasn’t filed an appeal yet.
Policybazaar acknowledged the order but hasn’t filed an appeal yet.
This sets a precedent for tighter regulation of fintech and aggregator platforms.
This sets a precedent for tighter regulation of fintech and aggregator platforms.
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