IRDAI finds irregularities in SBI General Insurance Company.

However,IRDAI did not impose penalty on SBI General. The insurance regulator found that the general insurance did not meet its minimum business criteria under motor third party insurance regulations in FY 2016-17. As against the minimum business requirement of Rs. 379 crore under motor third party insurance, the insurer had underwritten premium of Rs.233 crore, a shortfall of Rs.146 crore or 39%.

IRDAI has found four general insurance companies - Bajaj Allianz, SBI, Go Digit and New India Assurance guilty of violating regulatory norms.