IRDAI slaps Rs.1 crore penalty on Nissan Renault Financial Services

The Insurance Regulatory and Development Authority of India (IRDAI) has imposed Rs.1 crore penalty on Nissan Renault Financial Services India, a corporate agent, for violation of guidelines pertaining to motor insurance service, among others.

The regulator also directed the firm to place the order before the Board of the Corporate Agent in the upcoming Board Meeting and provide a copy of the minutes of the discussion to the regulator. The Corporate Agent should submit an Action Taken Report to the Authority within 90 days from the date of this Order, IRDAI said on Monday.

www.thehindubusinessline.com, dt. 02-06-2026