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Red flags in Axis Bank’s insurance play | The Morning Context

LONGREAD
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Business

Red flags in Axis Bank’s insurance play

The bank was pulled up last month over irregular transactions with Max Life, and there remain unasked and unanswered questions over its indirect stake in Niva Bupa.

Furquan Moharkan

Ashwin Manikandan

16 November, 2022•9 min

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16 November, 2022•9 min

0

Red flags in Axis Bank’s insurance play

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On 14 October, the Insurance Regulatory and Development Authority of India fined Axis Bank Rs 2 crore. The move could dampen the ambitions that CEO Amitabh Chaudhry has for the private sector lender in the insurance sector.

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