Question : Which of the following controls the insurance business of India?
Option 1: RBI
Option 2: IDBI
Option 3: SEBI
Option 4: IRDAI
Correct Answer: IRDAI
Solution : The correct option is IRDAI.
The regulatory organization in charge of observing and controlling the insurance sector in India is the Insurance Regulatory and Development Authority of India (IRDAI). The protection of policyholder interests and the steady development of India's insurance industry are the responsibilities of IRDAI. It accomplishes this by establishing and enforcing rules and regulations for insurance providers, brokers, and other industry participants.
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