Tag: LIC Act 1956 GIC Act 1972
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History & Regulation of Insurance in India: Oriental Life (1818), Insurance Act 1938, LIC Act 1956, GIC (1972), Malhotra Committee (1993), IRDAI Act 1999, 74%/100% FDI & Bima Sugam/Bima Vistaar
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The History and Regulatory Evolution of Insurance in India is a guaranteed 2-to-4-mark area in UPSC EPFO APFC, IRDAI Grade A, and LIC AAO. Every aspirant must memorize the exact chronological milestones from 1818 to 2026: (1) 1818: Oriental Life Insurance Co. in Calcutta (1st Life insurer on Indian soil, founded by Anita Bhavsar/Bipin Behari…
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