Multiple choice

LIC of India was established in............

  1. 1949

  2. 1950

  3. 1956

  4. 1965
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

LIC of India was established in 1956. The demand for nationalization of life insurance industry was made repeatedly in the past but it gathered momentum in 1944 when a bill to amend the Life Insurance Act 1938 was introduced in the Legislative Assembly. It was much later on the 19th of January, 1956, that life insurance in India was nationalized. 

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