The Economic Times

Selling insurance but not handling customer grievances: IRDAI fines IndusInd Bank Rs 1 crore; here's what policyholders should know

IndusInd Bank faces a Rs 1 crore penalty from IRDAI for failing to provide an adequate, insurance-specific grievance redressal mechanism for policyholders. Despite claims of an overall system, the regulator found a lack of dedicated channels and inadequate information, highlighting a crucial distinction between banking and insurance customer service.