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Section 18. Functions of Corporation: (1) The functions of the Corporation shall include: (a) the carrying on of any part of the general insurance business, if it thinks it desirable to do so; (b) aiding, assisting and advising the acquiring companies in the matter of setting up of standards of conduct and sound practice in general insurance business and in the matter of rendering efficient service to holders of policies of general insurance; (c) advising the acquiring companies in the matter of controlling their expenses including the payment of commission and other expenses; (d) advising the acquiring companies in the matter of the investment of their funds; (e) issuing directions to acquiring companies in relation to the conduct of general insurance business: Provided that all the functions of the Corporation specified in this sub-section, on and from the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002, shall be performed by the Central Government.
The simple interest on a sum of money will be Rs. 800 after 10 years. If the principal is tripled after 5 years, what will be total interest at the end ...
A sum of money amounts to Rs 250 in 4 years and Rs 432 in 7 years at a compound rate of interest. What is the rate of interest per annum?
The compound interest on a certain sum for 2 years at 10% per annum is Rs. (x+420). The simple interest on the same sum at the same rate for the same ti...
Divide Rs. 53,285 into two parts such that the amount received from first part after 12 years is equal to the amount received from second part after 8 y...
An article is marked 35% above its cost. If a profit of 20% is earned by selling the article, then the discount per cent offered on the marked price of ...
Soni gets a SI of Rs. 3360 on a certain principal at the rate of 7%p.a. in 3 years. What CI will she get on twice the principal in two years at the same...
The interest on 24,000 in a year compounded annually when the rates are 8% p.a. and 10% p.a. for two successive years is:
What is the rate of compound interest annually?
I. An amount doubles itself in 5 years on
simple interest
II. Difference between th...
Divide Rs. 2,440 into two parts such that the first part after 10 years is equal to the second part after 8 years, compound interest being 20% per annum...
Investing Rs. (4z + 400) at 20% p.a. compound interest for 3 years yields an interest of Rs. (5z - 800). Find the value of ‘z’.(Can calculate approx...