The Insurance Regulatory and Development Authority (IRDA) of India have charged a fine of US$92,806 or INR 5 million from the only listed microfinance company in the country – SKS Microfinance. This was done because the company charged a higher premium that what is allowed to its microinsurance customers. Read more here. In response, SKS Microfinance’s share price slipped by 2 per cent in the morning trade on Thursday. Read more here.