unlimited years

IRDA Planning To Take Against Reliance General Life in Penalty Scam!

बेईमानी के धन्दे में बेईमानी करने की मिली सजा , घूस भी डकार गए अधिकारी और अब ईमानदार दिखने की कोशिश में !


16 Feb 2016

  India RTI News Exclusive  

Insurance Regulatory and Development Authority reduced Reliance General Life penalty from Rs17500 cr to Rs 20 Lac for selling policy without IRDA approval. Later the case was under investigation by CBI to check any corruption in this reduction of penalty.

After the CBI investigation IRDA is also planning to take action against Reliance general insurance company.

RTI was filed to get the copy of CBI report which was submitted by CBI to Ministry of Finance . PMO forwarded this application to MOF and later to IRDA. IRDA PIO denied to share report because the final decision has not been taken (See Picture). In the final decision IRDA can also rectify its mistake and hike the penalty amount.

As per the track record of RTI ,  IRDA never issue approval certificate to any policy(RTI Reply), they donot have format of approval certificate.So as per technical point none of the policy in India is approved by IRDA,but specific action is initiated against reliance general life only. The policy of not issuance of approval certificate to any policy is that IRDA may be headquarter of corruption or IRDA employees are not competent to understand insurance subject! 



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