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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.
The duty to give information about insurance as per S. 152 of the Motor Vehicles Act includes-
Which of the following is not true about a decree?
Which permanent settlement machinery has been mentioned in the Industrial Disputes Act, 1947 accountable for the speedy and amicable settlement of indus...
For what can a specific relief be granted__________
Which of the following emergencies has been declared for the maximum time in India:
Which of the following is the objective of the IRDA Act?
When rescission may be adjudged by the court?
As per the Employee’s Compensation Act, what shall be the amount of compensation where death results from the injury
The principle of confidentiality in the arbitration and conciliation act 1996 is laid down in
Which of the following is a valid mode of dissolution of a Partnership?