Question

    What total fine did the Insurance Regulatory and Development Authority of India (IRDAI) impose on HDFC Life for various regulatory infractions in August 2024?

    A ₹1 crore Correct Answer Incorrect Answer
    B ₹2 crore Correct Answer Incorrect Answer
    C ₹3 crore Correct Answer Incorrect Answer
    D ₹50 lakh Correct Answer Incorrect Answer
    E ₹70 lakh Correct Answer Incorrect Answer

    Solution

    HDFC Life was penalized ₹2 crore by IRDAI for several regulatory breaches detected during an inspection for the financial years 2017-18 to 2019-20. This substantial fine underscores IRDAI’s commitment to stringent enforcement of regulations to protect policyholders' interests and maintain integrity within the insurance sector.

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