Which of the following is true regarding the General Insurance Business (Nationalization) Act, 1972?
The General Insurance Business (Nationalization) Act, 1972 was passed by the Indian Parliament to nationalize all general insurance companies operating in India. The act led to the creation of four public sector general insurance companies: National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited, and United India Insurance Company Limited. The act did not allow for the entry of private players into the general insurance sector in India. The concept of third-party insurance was not abolished by the act. Hence, option A is correct.
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Fill in the blank with the most appropriate word.
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Fill in the blank with the most appropriate word.
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Select the option that arranges sentences A, B, C and D in a logical sequence.
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