Question
Consider the following statements about the IRDAI?
I. IRDAI was established in 1999. II. It is a regulatory body under the jurisdiction of the Ministry of Finance. III. The Headquarters of IRDAI is in Hyderabad. Which of the following statements is/are incorrect?Solution
Insurance Regulatory and Development Authority of India (IRDAI) is a regulatory body under the jurisdiction of Ministry of Finance , Government of India It is tasked with regulating and licensing the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India. The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.
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