Section 17(1) in Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015
(1)Every corporate agent shall at the time of application of registration and renewal thereof pay non-refundable application fee of Rs. 10,000/-, plus applicable taxes. The fees shall be payable by an Account Payee draft in favour of "The Insurance Regulatory and Development Authority of India" payable at Hyderabad or by recognised electronic funds transfer to Insurance Regulatory and Development Authority of India. No application shall be processed without the application fee.
