New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Which private sector insurer , is set to incorporate a

    not-for-profit company for housing the Bima Sugam platform - ‘Rashtriya Bima Sugam Nigam’ the cost of transaction of which is proposed to be up to 10,000 equity shares with a face value of Rs 10 each for cash at par? 
    A Max Life Insurance Correct Answer Incorrect Answer
    B HDFC Life Insurance Correct Answer Incorrect Answer
    C ICICI Prudential Life Insurance Correct Answer Incorrect Answer
    D Bajaj Allianz Life Insurance Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ICICI Prudential Life Insurance, a private sector insurer, is set to incorporate a not-for-profit company for housing the Bima Sugam platform - ‘Rashtriya Bima Sugam Nigam’. The cost of the transaction is proposed to be up to 10,000 equity shares with a face value of Rs 10 each for cash at par, aggregating to 8.33 per cent of the initial issued and subscribed share capital in the First Tranche.

    Practice Next