Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Hyderabad
B	Kolkata
C	Chennai
D	Mumbai

Explanation:

Detailed explanation-1: -It is under the ownership of Government of India and administrative control of the Ministry of Finance. The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalizing the insurance industry in India.

Detailed explanation-2: -Life Insurance Corporation of India (LIC), owned by the Government of India, is a provider of life insurance plans.

Detailed explanation-3: -The LIC Act came into effect from July 1956. It helped in the nationalization of the private insurance industry in India. LIC of India was formed by merging 154 life insurance companies, 16 foreign companies and 75 provident companies. It is one of the largest financial institutions in India.

Detailed explanation-4: -IDBI Bank, LIC Mutual Fund, LIC Pension Fund, LIC Housing Finance, LIC Cards Services, and LIC International are some of the subsidiaries of LIC.

There is 1 question to complete.