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Policy▼ Bearish for Indian equities
Banks may rejig insurance sales as Irdai proposes sharp commission cuts
The brief
- IRDAI has proposed sharp cuts to insurance commissions
- Banks could favour longer-term insurance products or seek to offset lower payouts with higher volumes
- Lower insurance commissions could pressure bank fee income, including at PSU banks
- Market drift lower in early trade; breadth weak
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- Eight PSU banks lack non-executive chairmen, raising governance concerns
IRDAI's proposed insurance distribution reforms
IRDAI proposed phased cuts to insurers’ expense limits, commission caps and a ban on compulsory insurance bundling with loans. The proposals prompted debate over premiums, mis-selling and distributor payouts, while reports highlighted possible earnings risks for PB Fintech.
Saturday, 26 September
Friday, 25 September
- Banks may rejig insurance sales as Irdai proposes sharp commission cuts