New NABARD Grade A 2024 Results out!! Register here for a free live workshop on Feb 26, 2025 at 5 PM. Only on Zoom.

    Question

    Under the General Insurance Business (Nationalisation)

    Act the provision relating to the payment of the dues to the Life Insurance Corporation, it shall be given to it in _____________, the first of which shall fall due on the appointed day
    A Annual instalments Correct Answer Incorrect Answer
    B Two equal annual instalments Correct Answer Incorrect Answer
    C Five equal annual instalments Correct Answer Incorrect Answer
    D Three equal annual instalments Correct Answer Incorrect Answer
    E Such annual installments as the Central Government may prescribe Correct Answer Incorrect Answer

    Solution

     Section 13. Mode of payment: (c) to the Life Insurance Corporation, it shall be given to it in three equal annual instalments, the first of which shall fall due on the appointed day.

    Practice Next