๐ PB Fintech stock tanks after IRDAI proposal
PB Fintech shares experienced a sharp decline, dropping over 30% in value. This market reaction was triggered by the Insurance Regulatory and Development Authority of India (IRDAI). The regulatory body recently proposed a reduction in the insurance commissions structure. This move is expected to impact the profitability models of insurance tech players significantly. Investors are now closely watching how the company responds to this new regulatory landscape. ๐