Question

    Which act governs the functioning of insurance companies

    in India?
    A Insurance Regulatory and Development Act, 1999 Correct Answer Incorrect Answer
    B Companies Act, 1956 Correct Answer Incorrect Answer
    C Banking Regulation Act, 1949 Correct Answer Incorrect Answer
    D Insurance Act, 1938 Correct Answer Incorrect Answer
    E Securities Contract Regulation Act, 1956 Correct Answer Incorrect Answer

    Solution

    The Insurance Act, 1938 governs the functioning of insurance companies in India. It lays down the rules and regulations for the insurance industry.

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