Q. What legislative act granted the Life Insurance Corporation (LIC) the exclusive privilege to conduct life insurance business in India in September 1956?

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Q. Under the General Insurance Business (Nationalisation) Act, 1972, what was transferred to the General Insurance Corporation (GIC) for the regulation and control of general insurance business?

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Q. When did the General Insurance Corporation (GIC) commence business under the provisions of the Companies Act, 1956?

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Q. How were the companies amalgamated and grouped under GIC?

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Q. Which of the following is not one of the subsidiary companies of GIC?

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Q. In 1993, which committee was appointed by the Government of India for opening up the insurance sector to private sector participation?

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Q. When did the IRDA start issuing licenses to private life insurance companies under the Companies Act, 1950?

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Q. According to current FDI norms, what is the maximum allowed foreign participation in an Indian insurance company?

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Q. Which entities are considered members of the Insurance Association of India?

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Q. How is the membership of insurers and provident societies incorporated or domiciled outside India classified in the Insurance Association?

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Q. What are the two councils of the Insurance Association?

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Q. What function does the Life Insurance Council perform through its Executive Committee?

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Q. What is the role of the General Insurance Council's Executive Committee regarding actual expenses of management incurred by an insurer?

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Q. Under which Act was the General Insurance Corporation of India (GIC) formed as a Government company?

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Q. According to the General Insurance Business (Nationalisation) Act, 1972, what was the purpose of establishing GIC as a holding company?

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Q. What are the functions of GIC as stated in the General Insurance Business (Nationalisation) Act?

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Q. According to the Act, what role does GIC play in relation to competition among subsidiary companies?

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Q. How were the Indian insurance companies organized under GIBNA, 1972, after the formation of GIC?

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Q. Why were the four General Insurance companies positioned to promote competition among them?

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Q. What significant change did the Insurance Regulatory and Development Authority Act, 1999, bring to the Insurance Act, 1938?

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