SJM urge to PM, space for domestic investors in insurance brokerage firms

RSS-affiliate Swadeshi Jagaran Manch (SJM) Friday urged the Prime Minister Narendra Modi to ensure level playing field for domestic investors in insurance brokerage firms.

In a letter to Modi, SJM national convener Ashwani Mahajan has accused Insurance Regulatory and Development Authority(IRDA) of "favouring" foreign investors.

The IRDA (Insurance Brokers) Regulations, 2018, is "completely unfair" and is "tilted in favour" of the multinational brokerage houses, Mahajan alleged in his letter.

"We are seeking your direct intervention in this and a level playing field for the domestic and indigenous players," said the letter by Mahajan.