BANKING GENERAL KNOWLEDGE
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Paris
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New York
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Budapest
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Detailed explanation-1: -Accordingly, GIC was incorporated on 22 November 1972 as a private company under Companies Act, 1956 in Bombay and received its Certificate for Commencement of Business on 1 January 1973.
Detailed explanation-2: -The 1972 Act set up the General Insurance Corporation of India (GIC).
Detailed explanation-3: -History of GIC The formation of GIC was done under the pursuance of section 9(1) of GIBNA. Furthermore, it was incorporated on 22nd November 1972 under the companies act. Thus, the main purpose of the formation of GIC was to operate and control the business of general insurance in India.
Detailed explanation-4: -The objective of the General Insurance Corporation of India(GIC): Objectives of general insurance: To carry on the general insurance business other than life, such as accident, fire, etc. Now, To aid and achieve the subsidiaries to conduct the insurance business.