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    Question

    The Ministry of Road Transport and Highways (MoRTH) has

    issued a draft notification dated 14 June 2023 proposing Motor Third Party Premium and Liability Rules for the Financial Year (FY) 2023-24, in consultation with Insurance Regulatory and Development Authority of India (IRDAI). With respect to the above draft, which of the following statements are correct? Statement 1: A discount of 15% in premium has been proposed for educational institution buses. Statement 2: A discount of 25% in premium has been proposed for a private car registered as a Vintage Car. Statement 3: A discount of 15% and 7.5% in premium has been proposed for electric vehicles and hybrid electric vehicles, respectively.
    A Only 2 and 3 Correct Answer Incorrect Answer
    B Only 1 and 3 Correct Answer Incorrect Answer
    C Only 1 and 2 Correct Answer Incorrect Answer
    D 1, 2 and 3 Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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