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Which of the following regulates the Insurance Industry?

1. Reserve Bank of India (R.B.I.)
2. Securities and Exchange Board of India (S.E.B.I.)
3. Insurance Regulatory and Development Authority (I.R.D.A.)
4. Association of Mutual Funds in India (A.M.F.I.)

Correct answer: Insurance Regulatory and Development Authority (I.R.D.A.)

Solution

The Insurance Regulatory and Development Authority of India (IRDAI) regulates the insurance industry in India. It was established under the IRDA Act, 1999. RBI regulates banks, SEBI regulates securities markets, and AMFI is the association body for mutual funds.

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