Multiple choice general knowledge

When was the Life Insurance Corporation of India established?

  1. 1956

  2. 1982

  3. 1971

  4. 1951
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A Correct answer
Explanation

The Life Insurance Corporation of India (LIC) was established on September 1, 1956, when the Parliament of India passed the Life Insurance Corporation Act. This nationalized and consolidated the insurance industry in India by bringing together over 250 insurance companies. The other years (1951, 1971, 1982) do not correspond to LIC's establishment.

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