The correct answer is B. Insurance Regulatory and Development Authority (IRDA).
The Insurance Regulatory and Development Authority (IRDA) is the regulatory body for the insurance industry in India. It was established in 1999 by the Insurance Regulatory and Development Authority Act, 1999. The IRDA is responsible for regulating and developing the insurance industry in India. It does this by issuing licenses to insurance companies, setting standards for insurance products and services, and monitoring the activities of insurance companies.
The IRDA issues licenses to insurance agents who meet the requirements set by the IRDA. These requirements include having a minimum educational qualification, passing an examination conducted by the IRDA, and having a good character. Insurance agents who are licensed by the IRDA are required to comply with the code of conduct issued by the IRDA.
The other options are incorrect because they are not the regulatory body for the insurance industry in India. General Insurance Corporation (GIC) is a government-owned insurance company. State Bank of India (SBI) is a government-owned bank. Post Office is a government-owned postal service.