When was the Insurance Regulatory and Development Authority constituted?

A. 1971

B. 1999

C. 2001

D. 2005

Answer: Option B

Solution(By Examveda Team)

In 1999 the Insurance Regulatory and Development Authority (IRDA) was constituted to regulate and develop the insurance industry and was incorporated in April 2000. The IRDAI's headquartered in Hyderabad, Telangana, where it moved from Delhi in 2001.