IRDA Full Form
Do You Know What is IRDA Full Form in Hindi and English? If Now, then we will give you complete details about आईआरडीए क्या है और वे क्या करते हैं on this page. At present, almost every person is taking advantage of insurance schemes in some way or the other.
Insurance scheme plays a special role in the economic development of our country. And we keep seeing many types of fraud with the insured and the cases of getting money or not getting the insurance money. IRDA means Insurance Regulatory and Development Authority of India which was created to deal with all such matters related to insurance, it solves any problem related to insurance.
IRDA Full Form
IRDA Full Form in Hindi
“बीमा विनियामक और विकास प्राधिकरण ”
IRDA Full Form in Tamil
“காப்பீட்டு ஒழுங்குமுறை மற்றும் மேம்பாட்டு ஆணையம்”
IRDA Full Form in Marathi
“विमा नियामक आणि विकास प्राधिकरण”
IRDA Full Form in English
“Insurance Regulatory and Development Authority of India”
आईआरडीए क्या है और वे क्या करते हैं – यहाँ जानिए
आईआरडीए का पूर्ण रूप “भारतीय बीमा नियामक और विकास प्राधिकरण” है। बीमा उद्योग को विनियमित और बढ़ावा देने के लिए, आईआरडीए भारत सरकार द्वारा चलाया जाता है। यह स्वायत्त और वैधानिक निकाय है और इसका गठन बीमा नियामक और विकास प्राधिकरण अधिनियम, 1999 द्वारा किया गया था। आईआरडीए भारत सरकार द्वारा पारित किया गया था और 2001 से इसका मुख्यालय हैदराबाद में है।
इसके अलावा, आईआरडीए एसोसिएशन एक 10 सदस्यीय निकाय है जिसमें अध्यक्ष, 5 सदस्य पूर्णकालिक काम कर रहे हैं और 4 सदस्य अंशकालिक में काम कर रहे हैं। सदस्यों की अनिवार्य भूमिका नीति जारी करना, नीति का पुनर्जनन और भविष्य में परिवर्तन, यदि कोई हो, हैं। इसलिए IRDAI बीमा कंपनियों के लिए प्राथमिक निर्देश है। उनका प्राथमिक उद्देश्य बीमा उद्योग के विकास को प्रोत्साहित करना और सुनिश्चित करना है।
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History of IRDA
In 1991, the Government of India started economic reform programs and financial sector reforms. Committee on Reforms in Insurance Sector in 1993, Shri R.N. Malhotra was constituted under the chairmanship of retired Governor, Reserve Bank of India to recommend reforms in the insurance sector. In 1994, the Malhotra Committee, after studying the insurance sector and taking inputs from all stakeholders, recommended reforms.
In 1996, an interim body called the Insurance Regulatory Authority was set up. In 1999 the enactment of the Insurance Regulatory and Development Authority (IRDA) Act, 1999 was passed. In the year 2000, the Insurance Regulatory and Development Authority was constituted on 19-4-2000 as an autonomous regulatory body.
What does IRDA do?
The functions of IRDA are as follows-
- Conducting Exam
IRDA agency conducts the exam for Insurance Agent in India. The person who is willing to become an insurance agent can apply by visiting the official website https://www.irdai.gov.in. The eligibility for insurance agent has been kept as 12th pass by IRDA.
- Protection Of Interests Of Policy Holders
The main function of this agency is to protect the interests of the policy holders. Along with this, he also deals with matters related to insurance claims, surrender value, nomination of policy holders etc. When there is a violation of any type of insurance rule law in the field of insurance, then this institution investigates and resolves that matter.
- Insurance Company Interests
This agency also takes care of the interest of the insurance company. For this, she also operates some useful schemes to get more profit.
- Controlling And Regulating The Rates
This agency decides on the current rate terms and conditions of the insurance product in India, the decision taken by it must be binding on every insurance company.
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List Of Companies Regulated by IRDA
Private Insurance Company of India which are regulated by IRDA:
- Star health insurance
- Life Insurance Corporation of India
- Religare Health Insurance
- Export Credit Guarantee Corporation Limited
- Shriram General Insurance Company Lt.
- Future Generali India Insurance Company Limited
- HDFC-Chub General Insurance Company Limited
- Reliance General Insurance Company Limited.
- Bajaj Allianz General Insurance Company Limited
- Tata AIG General Insurance Company Limited
- IFFCO Tokio General Insurance Company Limited
- Apollo Munich Insurance Company Limited
- Cholamandalam General Insurance Company Limited
- Bharti AXA General Insurance Company Limited
- Raheja QBE General Insurance Company Limited
- ICICI Lombard General Insurance Company Limited.
Structure of RDA
IRDA is a ten people organization which is as follows –
There is a chairman whose term is five years and the maximum age for him is 60 years. Five full-time members, their tenure is five years and the maximum age has been kept at 62 years, Four part-time members – not exceeding five years. The Chairman and the members of IRDA are appointed by the Government of India.
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Functions and Duties of IRDA
- IRDA works to formulate and monitor the policies of all insurance companies in India.
- IRDA deals with the registration and regulation of insurance companies of India
- To promote and ensure regular growth of insurance business and re-insurance business by IRDA.
- It protects the interests of policy holders related to claim settlement, surrender value of the policy, etc.
- It specifies the qualifications, code of conduct and training required for insurance intermediaries and agents.
- It oversees the functioning of the Tariff Advisory Committee.
- It specifies a code of conduct for surveyors and loss assessors.
- It regulates the investment of funds by insurance companies.
- In the case of general insurance, those who assess the loss to the policyholder should state the code of conduct.
- Provide certificate of registration to IRDA Life Insurance Company.
- IRDA charges fees and other charges from insurance companies and insurance agents for carrying out the purposes of the Act.
- It specifies the percentage of life insurance and general insurance business in the rural or social sector.
- Prevents fraud and misspelling of insurance products.
- Ensures speedy settlement of claims.
- Compounds disputes between insurers and insurance intermediaries.
- Stating the percentage of life insurance business and general insurance business accepted by the insurer in the rural or social sector; And
- IRDA specifies the percentage of premium income of the insurer to finance the insurance project.
Here you have been given information about what is the full form of IRDA, what is IRDA, IRDA Ka Full Form, IRDA का फुल फॉर्म, IRDA Full Name, IRDA Ka Full Form Kya Hai, IRDA Long Form, IRDA Means, IRDA Ka Matlab, IRDA Full Form Exam, IRDA Full Form Hindi. For other such information, you can visit our web portal recruitmentresult.com. If you want to ask your thoughts or suggestions or questions regarding the given information, then you can contact through the comment box.
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