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Irdai imposes penalty of Rs 25 lakh on SBI’s arm

19 Apr 2021 Evaluate

Insurance Regulatory and Development Authority (IRDAI) has been imposed penalty of Rs 25 lakh on State Bank of India’s (SBI) subsidiary company -- SBI General Insurance for not fulfilling regulatory obligations under the Motor Third Party (MTP) business. 

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

Peers
Company Name CMP
State Bank Of India 961.00
PNB 122.50
Bank Of Baroda 238.50
Canara Bank 118.35
Union Bank Of India 185.20
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