Consider the following statements regarding IRDAI Insurance Regulatory and Development Authority of ...........

Economic Affairs Pension and Insurance

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Consider the following statements regarding IRDAI (Insurance Regulatory and Development Authority of India)

1. IRDAI is an autonomous, statutory body.

2. It was constituted by RBI act, 19

3. It is an apex body that regulates security market in India.

Which of the above are the correct options?

1 and 2 only

1only

2 and 3 only

All of the above

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Explanation:

statement 1 is correct: (IRDAI) is an autonomous, statutory body.
Statement 2 and 3 are incorrect:
Statement 2: IRDAI was constituted by Insurance Regulatory and Development Authority Act, 1999. Statement 3: IRDAI is an apex body which regulates the insurance industry in India while SEBI (Securities and Exchange Board of India) regulates the security market.