Question : Statement 1: The Unemployment Insurance Scheme provides financial assistance to unemployed individuals in India.
Statement 2: The scheme is funded by contributions from both employers and employees.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, statement 2 is false.
Option 4: Statement 1 is false, statement 2 is true.
Correct Answer: Statement 1 is true, statement 2 is false.
Solution : The correct answer is (c). Statement 1 is true, but statement 2 is false.
The Unemployment Insurance Scheme (UIS) is a government-run program that provides financial assistance to unemployed individuals in India. The UIS is funded by the central government, not by contributions from employers and employees.
The amount of the assistance is $50 \%$ of the individual's previous wage, and it is payable for a maximum period of two years. To be eligible for the UIS, individuals must have been employed for at least 12 months in the previous year. They must also be actively seeking employment.
The UIS is a valuable program that helps to protect unemployed individuals from financial hardship. The program is also a good investment for the government, as it helps to reduce social unrest and improve economic stability.
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Question : Statement 1: The Rashtriya Swasthya Bima Yojana (RSBY) provides health insurance coverage to unemployed individuals.
Statement 2: RSBY is a government initiative to address the health needs of the rural population in India.
Question : In 2019, the Export Credit Guarantee Corporation of India (ECGC) introduced the Export Credit Insurance Scheme(ECIS) called ______.
Option 1: NIRANKUSH
Option 2: NIRUKT
Option 3: NIRVAY
Option 4: NIRVIK
Question : The General Insurance (Amendment) Act, 2021 removes the provision that required the Central Government to have at least __________ownership in four subsidiaries of General Insurance Company, namely, National Insurance, New India Assurance, Oriental Insurance, and United India Insurance.
Option 1: 75%
Option 2: 49%
Option 3: 51%
Option 4: 80%
Question : Which among the following was set up in 1956 by the Indian Government by nationalising all the existing private sector life insurance companies?
Option 1: United India Insurance Company Limited
Option 2: General Insurance Corporation of India
Option 3: New India Assurance Company Limited
Option 4: Life Insurance Corporation of India
Question : Who is the regulator of the insurance sector in India?
Option 1: IRDAI
Option 2: RBI
Option 3: SEBI
Option 4: PFRDA
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