The Insurance Regulatory and Development Authority (IRDAI) is which type of body ?
1) Constitutional Body
2) Statutory Body
3) Advisory Body
4) Non governmental body
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The Insurance Regulatory and Development Authority (IRDAI) is which type of body ?
1) Constitutional Body
2) Statutory Body
3) Advisory Body
4) Non governmental body
The correct answer is Statutory Body .
A statutory body or authority means a non-constitutional body which is set up by a parliament. Statutory bodies are authorized to pass the law and take the decision on the behalf of a state or country. … Example of a statutory body is SEBI i.e. Securities and Exchange Board of India,