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Life Insurance Corporation of India (LIC) is ….. Indian state-owned insurance group and Investment Company headquartered….. Mumbai. The Parliament of India passed the Life Insurance of India Act on 19 June 1956, ……. started operating in September of that year. ….. consolidated the business of 245 private life insurers and other entities offering life insurance services. The nationalisation of the life insurance business in India was a result of the Industrial Policy Resolution of 1956, which ……… created a policy framework for extending state control.
Life Insurance Corporation of India (LIC) is ….. Indian
a
an
the
of
- Life Insurance Corporation of India (LIC) is a renowned state-owned entity in India.
- Correct Answer: Option 1: "a" - The statement is properly used because 'a' precedes a noun starting with a consonant sound.
- The sentence should read: "Life Insurance Corporation of India (LIC) is a state-owned insurance group."
- The front part of the sentence, "headquartered in Mumbai," is a simple factual description of where LIC is based.
- The law, "Life Insurance of India Act," was passed on 19 June 1956, leading to LIC's operations starting in September 1956.
- LIC gathered the operations of numerous smaller insurers, centralizing them under state control.
- The Industrial Policy Resolution of 1956 laid the groundwork for increased state oversight in industries, including life insurance.
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