BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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20th December 1999
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20th December 2007
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20th December 1992
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20th December 2002
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Detailed explanation-1: -Agriculture Insurance Company of India Limited was incorporated under the Indian Companies Act 1956 on 20th December, 2002 with an authorised share capital of INR 15 billion and paid up capital of INR 2 billion. AIC commenced business from 1st April, 2003.
Detailed explanation-2: -The first crop insurance program was introduced in 1972-73 by the ‘General Insurance’ Department of Life Insurance Corporation of India on H-4 cotton in Gujarat.
Detailed explanation-3: -Comprehensive Crop Insurance Scheme (CCIS) was started from 1985 with the objective of providing financial support to the farmers in the event of crop failure due to drought, flood etc. Since inception of the scheme in 1985, about 5.82 crore farmers have been covered upto Rabi 1996-97 season.
Detailed explanation-4: -1500 crore. The initial paid-up capital was Rs. 200 crores, which was subscribed by the promoting companies, General Insurance Corporation of India GIC (35%), NABARD (30%) and the four public-sector general insurance companies (8.75%) each, viz., National Insurance Co. Ltd., Oriental Insurance Co.