The correct answer is: C. IRDA Act, 1999.
Agriculture Insurance Company of India Limited (AIC) was incorporated on 19th August 1998 under the Insurance Regulatory and Development Authority (IRDA) Act, 1999. It is a wholly owned subsidiary of the General Insurance Corporation of India (GIC). AIC is the only specialized agriculture insurance company in India and it provides a wide range of insurance products to farmers, including crop insurance, livestock insurance, and weather-based insurance.
The IRDA Act, 1999 was enacted by the Parliament of India to provide for the establishment of an Insurance Regulatory and Development Authority for regulating and developing the insurance business in India. The Act also provides for the registration of insurance companies, the regulation of their activities, and the protection of the interests of policyholders.
The SEBI Act, 1992 was enacted by the Parliament of India to provide for the establishment of a Securities and Exchange Board of India for regulating the securities market in India. The Act also provides for the registration of stock exchanges, the regulation of their activities, and the protection of the interests of investors.
The Companies Act, 1956 is a comprehensive law that governs the incorporation, management, and winding up of companies in India. The Act also provides for the regulation of the activities of companies, including the issue of shares and debentures, the appointment of directors, and the maintenance of accounts.
The Reserve Bank of India Act, 1934 is a law that establishes the Reserve Bank of India as the central bank of India. The Act also provides for the powers and functions of the Reserve Bank, including the regulation of the banking system, the management of the country’s foreign exchange reserves, and the issuance of currency notes.