Multiple choice

Which of the following statements is/are correct in relation to the Insurance Regulatory and Development Authority (IRDA)?

  1. IRDA is an autonomous apex statutory body which regulates and develops the insurance industry in India.
  2. It was constituted by an Act of the Parliament of India.
  3. It is headquartered at Delhi.

  1. 1, 2 and 3

  2. Only 1

  3. Only 1 and 2

  4. Only 1 and 3
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Insurance Regulatory and Development Authority (IRDA) is an autonomous apex statutory body which regulates and develops the insurance industry in India. It was constituted by a Parliament of India Act called Insurance Regulatory and Development Authority Act, 1999 and duly passed by the Government of India. The agency has its headquarters at Hyderabad, Andhra Pradesh where it shifted from Delhi in 2001.

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