Indusind Bank
Bank, insurance services paralysed
Public-sector banks and many government offices were shut recently on the second day of a general strike called by 11 trade unions pressing their demands and to protest against the ‘government’s pro-market reforms’. Read more
IRDA collects Rs 2.5 cr penalty in June-Sept period
Insurance Regulatory and Development Authority (Irda) has collected a whopping Rs 2.56 crore as penalty in the June to September period. The insurance regulator had imposed penalties ranging from Rs 5 lakh to Rs 1.47 crore on insurance companies. On one instance, a penalty of Rs 15 lakh was imposed on Indusind Bank, which is the corporate agent of Cholamandalam MS General Insurance. Read more