BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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is a society registered under the societies Registration Act
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is a company registered under the Companies Act. 1956
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is an NGO
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was constituted by an act of parliament under the IRDA Act. 1999
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Detailed explanation-1: -Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.
Detailed explanation-2: -(1) Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business. (q) exercising such other powers as may be prescribed.
Detailed explanation-3: -The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous regulatory body that protects the interests of the policyholder. They oversee the growth of the insurance sector in India, the requirements that different types of insurance policies project, and help maintain a speedy development.
Detailed explanation-4: -7. Salary and allowances of Chairperson and members.-(1) The salary and allowances payable to, and other terms and conditions of service of, the members other than part-time members shall be such as may be prescribed. (2) The part-time members shall receive such allowances as may be prescribed.