Question

16. IRDAI was constituted as an autonomous body to regulate both Insurance and Pension related products and services. .​

Answer 1

Answer:

Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.