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      Question

      According to the Insurance Act an insurer shall be

      ineligible for registration unless he has ___________________
      A Net owned funds amount to rupees five thousand crore Correct Answer Incorrect Answer
      B Net owned funds amount to rupees ten thousand crore Correct Answer Incorrect Answer
      C Net owned funds are not less than rupees five thousand crore Correct Answer Incorrect Answer
      D Gross owned funds are not less than rupees five thousand crore Correct Answer Incorrect Answer
      E Net owned funds are not less than rupees fifteen thousand crore Correct Answer Incorrect Answer

      Solution

      Section 6 Requirements as to capital - (2) No insurer, as defined in sub-clause (d) of clause (9) of section 2, shall be registered unless he has net owned funds of not less than rupees five thousand crore.

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