Question

According to the IRDA Act, 1999, which entity possesses the authority to establish the Insurance Regulatory and Development Authority of India?

A RBI Correct Answer Incorrect Answer
B SEBI Correct Answer Incorrect Answer
C IRDA Correct Answer Incorrect Answer
D Competent Authority Correct Answer Incorrect Answer
E Central Government Correct Answer Incorrect Answer

Solution

Section 3 Establishment and incorporation of Authority- (1) With effect from such date as the Central Government may, by notification, appoint, there shall be established, for the purposes of this Act, an Authority to be called the Insurance Regulatory and Development Authority of India.

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