Financial Awareness - Risk, Stability & Emerging Finance
Which of the following powers is vested in IRDAI under the IRDA Act, 1999?
Which of the following powers is vested in IRDAI under the IRDA Act, 1999?
easy Q2 of 15
Step-by-Step Solution
Step 1: Identify IRDAI's statutory powers
IRDAI has the authority to grant registration to insurance companies to operate legally.Step 2: Eliminate unrelated powers
Issuing banking licenses is RBI's role, stock market regulation is SEBI's, and fiscal policy is government’s domain.Final Answer:
Granting registration to insurance companies → Option CQuick Check:
IRDAI power = Granting insurance company registration ✅
Quick Trick: Associate registration power exclusively with IRDAI for insurance firms.
Common Mistakes:
- Mixing IRDAI's powers with RBI or SEBI functions.
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