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    Question

    When was the Life Insurance Corporation (LIC) Act

    enacted? 
    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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