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NIACL Administrative Officer Formation of IRDA — practice questions

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Formation of IRDA questions and exercises with answers

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On what date was the Insurance Regulatory and Development Authority formed as an autonomous regulatory body?Read the answer and worked solution →

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On what date was the Insurance Regulatory and Development Authority formed as an autonomous regulatory body?

  1. 1 April 1999
  2. 19 April 2000
  3. 1 January 2001
  4. 26 December 2014
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Correct answer: B. 19 April 2000

1. The IRDA Act 1999 came into force on a date appointed by the Central Government. 2. S.O.397(E) appointed 19 April 2000 as that date. 3. IRDA was formed as an autonomous regulator on 19.4.2000. _Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "Formation of the Insurance Regulatory and Development Authority as an autonomous regulatory body on 19.4.2000"_

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