Question
Download Solution PDFThe General Insurance (Amendment) Act, 2021 removes the provision which required the Central Government to have atleast ________ ownership in four subsidiaries of General Insurance Company, namely, National Insurance, New India Assurance, Oriental Insurance, United India Insurance.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 51%.
Key Points
- The General Insurance (Amendment) Act, 2021 has removed the provision that required the Central Government to have at least 51% ownership in the four subsidiaries of General Insurance Company -
- National Insurance,
- New India Assurance,
- Oriental Insurance,
- United India Insurance.
- Option 1: 0.75 ownership is higher than the requirement, so it is not the correct answer.
- Option 2: 0.49 ownership is lower than the requirement, so it is not the correct answer.
- Option 3: 0.51 ownership is slightly higher than the required 51%, so it is the correct answer.
- Option 4: 0.8 ownership is higher than the requirement, so it is not the correct answer.
Additional Information
- The General Insurance Company is a state-owned insurance company in India.
- The four subsidiaries - National Insurance, New India Assurance, Oriental Insurance, United India Insurance - provide various insurance products such as health, motor, fire, and marine insurance.
Last updated on May 28, 2025
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