In pursuance of which one of the following was the General Insurance Corporation of India was formed?

A. General Insurance Business (Nationalization) Act, 1972

B. Insurance Act, 1938

C. Insurance Amendment Act, 2002

D. IRDA Act 1999

Answer: Option A

Solution(By Examveda Team)

The entire general insurance business in India was nationalized by the Government of India through the General Insurance Business (Nationalisation) Act of 197B.