| 1. IRDA is a multimember nodal agency |
| 2. It is vested with regulatory powers in respect of the insurance sector similar to those vested in SEBI in respect of the capital markets and of RBI for the banking sector. |
| 3. The IRDA Act, 1999 cleared the way for private sector entry into the insurance business. |
A) 1 only
B) 2 only
C) 3 only
D) All of the Above
Correct Answer: D
Solution :
IRDA is a multimember nodal agency. It is vested with regulatory powers in respect of the insurance sector similar to those vested in SEBI in respect of the capital markets and of RBI for the banking sector. The IRDA Act, 1999 cleared the way for private sector entry into the insurance business.
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