Which of the following is the primary regulator of the insurance sector in India? |ForumIAS

[A] Securities and Exchange Board of India (SEBI)

[B] Reserve Bank of India (RBI)

[C] Insurance Regulatory and Development Authority of India (IRDAI)

[D] Pension Fund Regulatory and Development Authority (PFRDA)

Answer: C

Notes:

Explanation:

The Insurance Regulatory and Development Authority of India (IRDAI) is the apex statutory body tasked with regulating and promoting the insurance and reinsurance industries in India.
Established under the IRDA Act, 1999, its functions include protecting policyholders’ interests, licensing insurers, and ensuring the financial stability of the insurance sector.

Source- 11th NCERT: Economics: Indian Economic Development and TMH Indian Economy by Ramesh Singh

Subscribe to get the latest posts sent to your email.