The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. IRDAI was established in

BANKING GENERAL KNOWLEDGE

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

A	2001
B	1999
C	2000
D	1992

Explanation:

Detailed explanation-1: -It is an autonomous and the statutory body tasked with regulating and promoting insurance and reinsurance in the country. IRDA was constituted by the Insurance Regulatory and Development Authority Act-IRDA Act, 1999 and has its headquarters in Hyderabad, Telangana.

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 Insurance Regulatory and Development Authority of India (IRDAI) was constituted as an autonomous body to regulate and develop the Indian Insurance industry. The IRDA was incorporated as a statutory body in April, 2000 following the opening of the Insurance sector for private participation.

Detailed explanation-4: -Debashish Panda, Chairperson, Insurance Regulatory and Development Authority of India.

Detailed explanation-5: -The correct answer is IRDA. IRDAI (Insurance Regulatory and Development Authority of India) controls the insurance business of India. IRDIA is a statutory regulatory body. It was formed under Insurance Regulatory and Development Authority Act, 1999.

There is 1 question to complete.