In an exchange filing, Bajaj Finance stated that the ruling has no appreciable effect on its operations, finances, or other business operations. Bajaj Finance has been fined Rs 1 crore by the insurance regulator for failing to reconcile the professional fees and commissions it received and declared to the authorities. Regarding the upkeep of customer documentation records, an extra fine of Rs 1 crore was levied. In addition, Irdai has given the corporation other instructions and told it to follow them within a certain amount of time.
