What is the function of IRDA

Home / Commerce / Insurance / Question
Examveda
Examveda

What is the function of IRDA?

A. Plan for Financial Inclusion

B. Provide relief packages to the Farmers

C. Regulate insurance business in India

D. Hiring & Purchasing assets

Answer: Option C

Solution (By Examveda Team)

The function of IRDA is to regulate insurance business in India. For many years the insurance sector of India was protected. The IRDA Act of 1999 allowed the entry of private companies in the insurance sector. It also allowed for 26% investment by foreign companies.

This Question Belongs to Commerce >> Insurance

Join The Discussion

Related Questions on Insurance
  View Answer
  View Answer
  View Answer
  View Answer

Read More: MCQ Type Questions and Answers