BANKING GENERAL KNOWLEDGE
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Question
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Reliance General Insurance has received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for its IPO. IPO stands for
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Initial Product Offering
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Initial Public Offering
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International Public Offering
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Initial Partnership Offering
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Explanation:
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: -The Authority acts as the regulator of the insurance industry in India and oversees the functioning of the Life Insurance and General Insurance companies operating in the country. The main objective of the IRDA is to protect the interests of the policyholder and regulate the insurance industry.
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