Mangal Credit and Fincorp Ltd Secures Composite Corporate Agent License from IRDAI
Mangal Credit and Fincorp Ltd announced that it has been granted a Corporate Agent (Composite) license by the Insurance Regulatory and Development Authority of India (IRDAI). The approval allows the company to procure or solicit insurance business in the Composite category.The license, dated April 24, 2026, confirms Mangal Credit and Fincorp Ltd's eligibility to operate as a Corporate Agent under the guidelines set by the IRDAI. This strategic approval enhances the company's capacity to service customers by enabling them to solicit various insurance products.
According to the details provided, the key parameters of the granted license are as follows:
| Particulars | Details |
|---|---|
| Regulatory/Licensing Authority | Insurance Regulatory and Development Authority of India (IRDAI) |
| License Obtained | Corporate Agent License (Composite) |
| Description | Approved for procuring or soliciting insurance business in the Composite category under the IRDAI (Registration of Corporate Agents) Regulations, 2015. |
| Validity Period | April 24, 2026, to April 23, 2029 |
| Business Impact | The Company can solicit insurance products to its customers as a Corporate Agent. |
The approval marks a significant step for the company in the financial services sector, validating its role in the insurance distribution chain. No withdrawal, cancellation, or suspension of the license was noted, and the impact of the approval on the listed entity was stated as operational capability.
MANCREDIT Stock Price Movement
Shares of Mangal Credit and Fincorp Limited are edging higher to ₹173.39 as of 2:31 PM today, rallying 0.13% on the day. The stock maintains active momentum in the live market, supported by a robust traded volume of 30,354 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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