GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SEBI
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RBI
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IRDA
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GIC
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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: -An interim body called Insurance Regulatory Authority was set up in 1996. In the year 1999 Insurance Regulatory and Development Authority (IRDA) Act was passed and on April 19th 2000, Insurance Regulatory and Development Authority (IRDA) of India received autonomous status.
Detailed explanation-3: -What is the Regulation of the Insurance Business in India? In India, the regulation of Insurance Business is regulated by the Insurance Regulatory and Development Authority of India (IRDAI). The Insurance Regulatory and Development Authority of India (IRDAI) regulates the insurance industry in India.