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.
Indian state-owned insurance group and Investment Company headquartered …. Mumbai
Explanation:
- Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and Investment Company headquartered ……..
- The Parliament of India passed the Life Insurance of India Act on 19 June 1956, and started operating in September of that year.
- It 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 was created a policy framework for extending state control.
Explanation of Options:
- Option 1: "in" – This is correct when referring to a city or country.
- Option 2: "at" – Used for specific locations or buildings, but not for cities.
- Option 3: "from" – Indicates origin or starting point, not suitable here.
- Option 4: "into" – Suggests movement, not relevant in this context.