On which date, nationalisation of private insurance sector in India took place?
On which date, nationalisation of private insurance sector in India took place?
[A]January 19,1956
[B]August 16,1956
[C]November14,1956
[D]September 1, 1956
January 19,1956
On January 19,1956, the nationalisation of private insurance sector in India took place and Life Insurance Corporation came into existence by the Life Insurance of India Act on September 1, 1956. In it, more than 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.
