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      Question

      When was the Life Insurance Corporation (LIC) Act

      enacted?┬а
      A 1947 Correct Answer Incorrect Answer
      B 1950 Correct Answer Incorrect Answer
      C 1956 Correct Answer Incorrect Answer
      D 1960 Correct Answer Incorrect Answer
      E 1965 Correct Answer Incorrect Answer

      Solution

      The Life Insurance Corporation Act, 1956 was enacted to nationalize the life insurance business and constitute LIC [Section 1].

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