BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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From which year the General Insurance Council has been constituted under section 64C of the Insurance Act, 1938?
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2000
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2002
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2001
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2004
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Explanation:
Detailed explanation-1: -The General Insurance Council has been constituted under section 64C of the Insurance Act, 1938 since 2001 by the Insurance Regulatory and Development Authority of India (IRDAI).
Detailed explanation-2: -General Insurance Council is formed. 1957 saw the formation of the General Insurance Council, a wing of the Insurance Association of India.
Detailed explanation-3: -1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business. 1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.
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