Business Studies, asked by rajabethe77, 1 year ago

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

Answers

Answered by payalpapiya2000
64

Answer:

england is the answer of this question

Answered by mindfulmaisel
22

On ‘20th January’ 1956, all ‘Life Insurance Companies’ operating in ‘India’ were taken over by the government of India nominated custodians.

Explanation:

  • The total ‘life insurance business’ in India was ‘nationalized’ according to the ‘Life Insurance Corporation Act’.  
  • All the insurance companies that were operating in India came under one entity called the Life ‘Insurance Corporation of India’.  
  • The Act was passed by the ‘parliament’ in June 1956 and the Act came into effect on 1st July 1956.
  • The working of LIC India is controlled by the government according to the ACT.
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