PB Fintech Crashes 26%, Turtlemint Hits Lower Circuit On IRDAI Commission Cap Plan

Shares of Policybazaar parent PB Fintech and insurtech company Turtlemint crashed after the Insurance Regulatory and Development Authority of India (IRDAI) proposed a sweeping overhaul of insurance distribution, including hard commission caps and lower expenses of management (EoM) limits. PB Fintech shares plunged 26% to ₹1,398.60 on the BSE, hitting the dynamically revised lower price band. The stock opened 10.1% lower at ₹1,700 and continued to slide during intraday trading.