Vedavaag Subsidiary Gets IRDAI In-Principle Approval for Broker License

Vedavaag Systems Ltd announced that its wholly owned subsidiary, Vedavaag Financial Insurance Broking Services Private Limited, has received in-principle approval from IRDAI to act as a Direct Insurance Broker (Life & General). This approval is subject to the subsidiary complying with specific requirements within 15 days, including raising capital to INR 75 lakhs, creating a fixed deposit of INR 10 lakhs, and submitting various auditor and bank certificates. The company will provide further updates on material developments.