Question

What is the authorised capital of the Corporation as per

Q: Answer-What is the authorised capital of the Corporation as per the General Insurance Business (Nationalisa...

ExplanationSection 9. Formation of General Insurance Corporation of India2 The authorised capital of the Corporation shall be 2rupees two hundred and fifty crores, divided into two hundred and fifty lakhs fully paid-up shares of one hundred rupees each, out of which rupees five crores shall be the initial subscribed capital of the CorporationProvided that the Central Government may, by notification, increase or reduce the authorised capital or subscribed capital, as the case may be, as it deems fit.

the General Insurance Business (Nationalisation ) Act, and what flexibility does the Central Government have regarding it?

A Rupees two hundred crores, with no provision for change

B Rupees two hundred and fifty crores, with the option to increase or reduce it

C Rupees five crores, with no provision for change

D Rupees two hundred and fifty crores, fixed without any changes

E Rupees five crores, with the option to reduce it

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What is the authorised capital of the Corporation as per

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