To allow insurance companies in private sector, 'The insurance corporatin Act 1973' was amended in the year-

To allow insurance companies in private sector, 'The insurance corporatin Act 1973' was amended in the year- Correct Answer 1984

The Insurance Corporations Act 1973 was amended in 1984 to allow insurance companies in the private sector to operate side by side with Sadharan Bima Corporation and Jiban Bima Corporation. The restrictions were considered not congenial to the development of private sector business in insurance.
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