Reliance Health Insurance got go ahead signal from Insurance Regulatory Development Authority of India (IRDAI-hyderabad). IRDAI Established in which year

BANKING GENERAL KNOWLEDGE

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

A	1999
B	2000
C	2001
D	2002
E	None

Explanation:

Detailed explanation-1: -April, 2000 Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000.

Detailed explanation-2: -IRDAI is the Insurance Regulatory and Development Authority of India. It was established on 19th April 2000 with an aim to regulate the insurance industry in India. The IRDAI is an autonomous body and has its headquarters in Hyderabad, Telangana.

Detailed explanation-3: -The change of name was effected in the Insurance Laws (Amendment) Ordinance, 2014 was promulgated by the President of India on December 26, 2014. The ordinance contains certain amendments to the Insurance Regulation and Development Act, 1999 and inserted the words “of India” after development authority.

There is 1 question to complete.