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
Correct Answer: Life Insurance Corporation of India
Solution : The correct option is Life Insurance Corporation of India.
The Government of India nationalised the private life insurance companies already in operation, creating the Life Insurance Corporation of India (LIC) in 1956. The action, which was a component of the banking sector's nationalisation agenda, resulted in the establishment of a state-owned monopoly in India's life insurance market.
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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 of the following is not on the list of Maharatna?
Option 1: Coal India Limited
Option 2: Steel Authority of India Limited
Option 3: Hindustan Petroleum Corporation Limited
Option 4: Bharat Heavy Electrical Limited
Question : The abbreviation “CPCL” is associated with the petroleum industry in India. Expand “CPCL”:
Option 1: Central Petroleum Corporation Limited
Option 2: Coimbatore Petroleum Corporation Limited
Option 3: Chennai Petroleum Corporation Limited
Option 4: Corporation of Petroleum and Chemicals Limited
Question : Which of the following is an example of joint sector Industry?
Option 1: Steel Authority of India Limited
Option 2: Hindustan Aeronautics Limited
Option 3: Maruti Udyog Limited
Option 4: Anand Milk Union Limited
Question : Which among the following is the sole note-issuing authority in India?
Option 1: Industrial Finance Corporation of India
Option 2: National Payments Corporation of India
Option 3: Reserve Bank of India
Option 4: State Bank of India
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