CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Introduction to NPO

Which of the ...

Question

Which of the following is the main regulatory authority for insurance companies in India?

A

RBI

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

SEBI

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

LIC

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

IRDA

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D IRDA
IRDA - Insurance Regulatory and Development Authority of India
It issues the registration certificates to insurance companies and regulates them. It protects the interest of policy holders. It provides license to insurance intermediaries such as agents and brokers after specifying the required qualifications and set norms/code of conduct for them.

Suggest Corrections

thumbs-up

1

Similar questions

Q. Which, one of the following is the regulating authority for governing the Insurance companies in India?

Q. Who has been appointed as the new Chairman of Insurance Regulatory and Development Authority of India (IRDAI)?

Q. Insurance Regulatory and Development Authorities Act come in to effect in ____________.

Q. 76. The Finance Ministry has set up a committee to consolidate the regulation of pension products.
Consider the following statement in this regard
1. In India the pension products has been sold only by Insurance Company.
2. All the pension products comes under the purview of the Pension Fund Regulatory and Development Authority (PFRDA)
3. Security and Exchange Board of India (SEBI) do not have any regulatory authority over Pension Products.
Which of the above statement(s) is/are correct?

Q. Insurance Regulatory and Development Authority of India(IRDAI) was recently in news. Consider the following statements regarding IRDAI:

1

. It is an autonomous and statutory body created by IRDA Act,

1999

.

2

. The primary functions of IRDAI include regulating the insurance industry and protects the customers.

3

. It was created based on the recommendations of the Rangarajan Committee.
Which of the given statements are correct?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Not-For-Profit Organisations

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Introduction to NPO

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon