IRDAI Commission Plan Crashes PB Fintech 26%

India's IRDAI proposed linking distributor commissions to product type and channel and banning dark patterns, sending PB Fintech down 26% to Rs 1,395.70 on the NSE, erasing Rs 22,703 crore in market value. Turtlemint fell 20%. CEO Yashish Dahiya said general insurance revenue could fall by a third to 40%, prompting slower hiring and reduced marketing spending.