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On which date was the Life Insurance Corporation of India (LIC) established by statute?

A15 Aug 1947
B26 Jan 1950
C01 Apr 1955
D01 Sep 1956
Answer & Solution
Correct answer: D. 01 Sep 1956
The Life Insurance Corporation of India (LIC) was established on 1 September 1956 via the Life Insurance Corporation Act.
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