General Insurance Business Nationalisation Act (1972)- Legislation for forming General Insurance Business Corporation

Q.  In pursuance of which one of the following was the General Insurance Corporation of India formed?
- Published on 20 Jul 15

a. General Insurance Business (Nationalisation) Act, 1972
b. Insurance Act, 1938
c. Insurance Amendment Act, 2002
d. IRDA Act 1999

ANSWER: General Insurance Business (Nationalisation) Act, 1972
 
The entire general insurance business in India was nationalised by the Government of India through the General Insurance Business (Nationalisation) Act of 1972.

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