These banking stocks are impacted the most by the IRDAI draft guidelines

According to IIFL Research, IndusInd Bank has the highest exposure among the banks tracked, with FY26 bancassurance income equivalent to 79.3% of profit before tax. It is followed by Bandhan Bank at 30.8%, RBL Bank at 28.5%, Yes Bank at 19.3%, Axis Bank at 12.5%, Federal Bank at 7.9% and HDFC Bank at 7.3%.