#1
May 10th, 2016, 02:51 PM
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SKS Microfinance under IRDA Scanner
Hi I would like to have the information about the SKS Microfinance company coming under the scanner of the IRDA for irregularities in the Insurance policies ssued?
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#2
May 10th, 2016, 02:52 PM
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Re: SKS Microfinance under IRDA Scanner
SKS Microfinance has now gone under protection controller IRDA's scanner for disregarding standards in offering protection arrangements to its borrowers. Sources said the nation's just recorded small scale money organization SKS Microfinance is under the scanner of the Insurance Regulatory and Development Authority (IRDA) for charging higher commission at a bargain of protection arrangements. They said SKS had gathered commissions higher than the 10 for every penny allowed for an operators while offering strategies. There have likewise been reports that SKS had gotten checks for death claims on its name. Under the ordinary practice, the check is issued in recipient's name. SKS Microfinance has been in a contention for sacking of its CEO and adding to its troubles, the Andhra Pradesh government provided an Ordinance for controlling the microfinance organizations. |
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