Q7
When was general insurance business nationalised?
A.
1970
B.
1971
C.
1972
D.
1973
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
The general insurance business was nationalised in 1973, with effect from 1 January 1973. It was the nationalization of 107 insurance companies into one main company called General Insurance Corporation of India and its four subsidiary companies with exclusive privilege for transacting general insurance business.