Q. Consider the following statements regarding “Insurance Regulatory and Development Authority of India (IRDAI)”:
1.It was established by executive resolution.
2.Its headquarters is in Hyderabad.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B
Notes:

Explanation: Insurance Regulatory and Development Authority of India (IRDAI) is a statutory body under an Act of Parliament, i.e., IRDAI Act 1999.

  • Headquarters is in Hyderabad, Telangana.
  • Ministry: Ministry Of Finance, Department of Financial Services.

Source: FORUMIAS

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