Insurance Regulatory And Development Authority (IRDA) Of India
Why is it in News?
IRDAI and National Health Agency has joined hands for the Ayushman Bharat Scheme.
- The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.
- It was created on the recommendations of the Malhotra Committee and is headquartered at Hyderabad.
- IRDAI was constituted by an Act of Parliament i.e. The Insurance Regulatory and Development Authority Act, 1999
- Insurance is listed in Union List in the 7th schedule of the Indian Constitution.