2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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3 years
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2 years
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4 years
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5 years
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Detailed explanation-1: -IRDAI proposes extension of regulatory sandbox guidelines by 2 years.
Detailed explanation-2: -The regulatory sandbox allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new financial products. “IRDAI is open to allow the regulations, which may benefit the citizens’ heath.
Detailed explanation-3: -A sandbox is an environment used in the financial services sector, which provides testing ground for new business models, processes and applications that may not necessarily be covered fully by or are not fully compliant with existing regulations.
Detailed explanation-4: -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.