5321872026-09-115321872026-09-11ActionsTakenOrOrdersPassedDomain15321872026-09-11ActionsTakenOrOrdersPassedDomain1PersonsAgainstWhomActionsTakenOrOrdersPassedDomain15321872026-09-11SignatoriesDomain1iso4217:INRxbrli:pureINDUSINDBKIndusind Bank Limited532187NOTLISTEDINE095A01012NewAction(s) taken or orders passed (sub-para 20)false2026-09-1113:18:002026-09-11Imposition of fine or penaltyRegulatory AuthorityInsurance Regulatory and Development Authority of India ("IRDAI")1Listed Entity (Self)Indusind Bank LimitedorderBank has received an Order dated September 10, 2026 from the Insurance Regulatory and Development Authority of India (IRDAI), imposing a monetary penalty of ₹1 crore (Rupees One Crore only) for non-compliance with certain provisions of the IRDAI (Registration of Corporate Agents) Regulations, 2015. The IRDAI observations are related to the Bank's bancassurance operations (i.e., acting as a Corporate Agent for distribution of third-party insurance products), with respect to grievance redressal and grievance reporting mechanism provided to insurance policyholders. 2026-09-11Bank has received an Order dated September 10, 2026 from the Insurance Regulatory and Development Authority of India (IRDAI), imposing a monetary penalty of ₹1 crore (Rupees One Crore only) for non-compliance with certain provisions of the IRDAI (Registration of Corporate Agents) Regulations, 2015. The IRDAI observations are related to the Bank's bancassurance operations (i.e., acting as a Corporate Agent for distribution of third-party insurance products), with respect to grievance redressal and grievance reporting mechanism provided to insurance policyholders. IRDAI conducted an inspection of the Bank's bancassurance operations from June 19 to June 22, 2023, and subsequently issued its Inspection Report on July 21, 2023. Following the inspection, IRDAI initiated enforcement proceedings by issuing a Show Cause Notice on March 26, 2025. After considering the Bank's written submissions and conducting a personal hearing, IRDAI passed the aforesaid penalty order dated September 10, 2026.NARs. 1 Crore (Rupees One Crore Only)IRDAI during onsite inspection in June 2023 identified certain instances of non-compliance relating to renewal notices issued to policyholders, lack of certain grievance redressal facility via Bank website for policyholders, not displaying IRDAI Registration Number on Bank website, and inadequate disclosure on Bank website that IndusInd Bank is acting as a Corporate Agent for distribution of insurance products of other companies(insurers) and that Bank does not underwrite the insurance risk as an insurer; etc.10000000IRDAI imposed a penalty of Rs. 1,00,00,000 under Section 102 of the Insurance Act, 1938 for violation of Regulation 20(1) of the IRDAI (Registration of Corporate Agents) Regulations, 2015. The Bank was also directed to revisit and strengthen its grievance redressal mechanism and generate acknowledgement numbers for complaints lodged by policyholders.NANAAnand Kumar DasCompany Secretary and Compliance Officer2026-09-11Mumbai