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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.
Which is the main indicator, the breach of which, would activate the Counter-Cyclical Capital Buffer?
A measure of how the returns of two risky assets move in relation to each other is the:
RBI has recently extended the guidelines related to Legal Entity Identifier (LEI) to…
SEBI had mandated the separation of the posts of Chairperson and MD of listed companies by April 01, 2022. This norm was a part of recommendations of t...
Which private sector bank has acquires Citi's India consumer business of 30 lakh new customers in a Rs 12,325 crore deal?
The National Company Law Appellate Tribunal (NCLAT) recently approved the transfer of ownership of Jet Airways to which consortium, upholding the Nation...
The Reserve Bank of India (RBI) doubled the limit for collateral-free loans to micro and small enterprises (MSEs) from 5 lakhs to 10 lakhs following whi...
Which of the following states were the top five contributors to ombudsman complaints during 2022-23, and which were the lowest contributors?
RBI has extended the deadline for NBFCs to adhere to new NPA (Non performing assets) recognition norms to :
Central government has extended the decision to keep ‘free-import’ policy for two varieties of tur and urad by _____.
