Question

Lic of India act wass passed in june 1956 but it came into force on

Answer 1

Explanation:

Life Insurance Corporation of India (lic) ,Act was passed by the Parliament on June 18, 1956 and came into force on July 1, 1956. Life Insurance Corporation of India commenced its functioning as a corporate body from September 1, 1956. Its working is governed by the LIC Act.

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Answer 2

Lic of India act was passed in june 1956 but it came into force on 1st July.

Explanation:

• The life insurance business in India was initiated on Jan 1956, the ac was passed by the parliament on June 18, 1956, and it came into effect from the 1st July 1956, the plan was set up by the wording government of LIC act.  

• The Lic was a corporate having perceptual succession a seal of power to hold and dispose of the property. It was made on the constitution, capital, and transfer of services.

• The objective of LIC in India was to act as a trustee of the insured public, meet the various life insurance needs.  Maximize the mobilization of people's savings. Spread life insurance widely to rural areas.

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• brainly.in/question/17211606 answered by rahulrai81.