Question
Download Solution PDFThe Government has informed that the Life Insurance Corporation is not going to be privatized and only the initial public offering, IPO will be issued. In which year was LIC established?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1956.
- The Government has informed that the Life Insurance Corporation is not going to be privatized and only the initial public offering, IPO will be issued.
- LIC is an Indian government-owned insurance and investment corporation.
- It was established on September 1, 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India.
Last updated on Mar 29, 2025
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