BANKING GENERAL KNOWLEDGE
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Question
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What is the authorised capital of General Insurance Corporation of India (GIC)?
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Rs.1000 crore
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Rs.500 crore
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Rs.2000 crore
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Rs.100 crore
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Explanation:
Detailed explanation-1: -The paid up capital of the Life Insurance Corporation of India (LIC) stands at Rs6, 324.99 crore as on 31 December 2021, said Bhagwat Karad, minister of state for finance.
Detailed explanation-2: -What is GIC. GIC stands for “Guaranteed Investment Certificate” which is a short term liquid investment usually for upto a year offered by Canadian Banks.
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