[amp_mcq option1=”Insurance Regulatory and Development Authority of India (IRDAI)” option2=”National Bank for Agriculture and Rural Development (NABARD)” option3=”General Insurance Corporation of India (GIC)” option4=”National Insurance Company Limited (NICL)” correct=”option4″]
The correct answer is D. National Insurance Company Limited (NICL).
The Agriculture Insurance Company of India Limited (AIC) is a government-owned non-life insurance company in India. It was established in 1995 to provide crop insurance to farmers. The AIC is a joint venture between the Government of India, the Reserve Bank of India, and the Life Insurance Corporation of India.
The AIC’s share capital is contributed by the following companies:
- The Government of India: 50%
- The Reserve Bank of India: 25%
- The Life Insurance Corporation of India: 25%
National Insurance Company Limited (NICL) is a government-owned non-life insurance company in India. It was established in 1907 as the Imperial Insurance Company of India. The NICL is a member of the General Insurance Corporation of India (GIC).
The NICL’s share capital is contributed by the following companies:
- The Government of India: 100%
Therefore, National Insurance Company Limited (NICL) has not contributed towards the share capital of Agriculture Insurance Company of India Limited (AIC).