Economy
IRDAI Proposals Wipe Out ₹1.12 Lakh Crore Across Financial Stocks
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THE BRIEF
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Financial stocks suffered heavy selling pressure on Thursday, eroding ₹1.12 lakh crore in market capitalisation across 12 firms following proposed regulatory changes by the IRDAI.
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Among the hardest hit, Bajaj Finance lost approximately ₹29,000 crore, PB Fintech shed nearly ₹20,000 crore, and HDFC Bank dropped about ₹15,000 crore in market value.
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The sell-off was triggered by an IRDAI consultation paper proposing tighter commission caps on health, life, and motor insurance alongside delinking insurance from mandatory loans.