Bandhan Bank sees Rs 200 crore annual hit from IRDAI distribution draft

Bandhan Bank expects a potential Rs 200 crore hit to annual income if IRDAI's proposed distribution norms are implemented in their current form. The bank currently earns around Rs 500–600 crore annually from distributing third-party products. It has made an individual representation to IRDAI seeking a commission structure that reflects distribution costs. It plans to shift insurance focus to Tier-2 to Tier-4 cities and expand mutual fund distribution.

Source: ET BFSI ↗