State Bank Of India

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.