Question

20th January 1956 all Life Insurance Companies operating in India were taken over by ______ nominated custodians.

Answer 1

Answer:

20 January 1956 all life insurance companies operating in India were taken over by life insurance corporation ( LIC )

Answer 2

20th January 1956 all Life Insurance Companies operating in India were taken over by Life Insurance Corporations.

Explanation:

• Until 1956 the private capital had absolute control over the country's insurance sector. LIC was made as an effort of the first PM of India. On 1st July 1956, LIC started its functioning as a corporate body and by September it was under the LIC act.

• LIC having perceptual control and a seal with the power to acquire and dispose of the property.  Objective of LIC was to maximize mobilization of savings, provide security, and meet the life insurance needs of the community.

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• brainly.in/question/17020863 answered by  mrunalinikele.