BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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General Insurance Corporation (GIC) of India was incorporated on____under the Companies Act, 1956 as a private company limited by shares.
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01st July 1955
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01st April 1935
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22nd November 1972
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12th April 1992/
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Explanation:
Detailed explanation-1: -The 1972 Act set up the General Insurance Corporation of India (GIC).
Detailed explanation-2: -66 years later, after passing of General Insurance Business Nationalisation Act in 1972, it was merged along with 21 foreign and 11 Indian companies to form National insurance Company Limited, one of the four subsidiaries of the General Insurance Corporation of India, fully owned by Govt. of India.
Detailed explanation-3: -Short title. This Act may be called the General Insurance Business (Nationalisation) Act, 1972 .
There is 1 question to complete.