CSEET · Economic and Business Environment · Indian Financial Markets
Which regulator is responsible for licensing insurers and protecting policyholders' interests in India?
IRDAI, the Insurance Regulatory and Development Authority of India, licenses insurers and protects policyholders. It regulates insurance and reinsurance companies and intermediaries. SEBI regulates securities markets and the RBI regulates banks and monetary policy, so they do not perform this role.
- ASEBI
- BRBI
- CIRDAICorrect
- DNABARD
Explanation
IRDAI registers and regulates insurance and reinsurance companies and intermediaries and safeguards policyholders' interests. SEBI deals with securities and the RBI with banking and monetary matters, so neither is the insurance regulator. NABARD is a development finance institution for agriculture and rural areas.
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