What is IRDA?
Insurance Regulatory & Development Authority is the board which was established by government of India. IRDA regulates the business of Private Insurance company's like ICICI, AVIVA, Max Newyork e.t.c. The Indian banks are under the control of RBI like the corporate insurance companies are under the reguation of IRDA.
IRDA Mission
"To Protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto."
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