LIC AAO Mains 2019- Financial and Insurance Market Questions | 18th June

Members On The Board Of The Corporation

MR Kumar, Chairman, LIC of India

Hemant Bhargava (Managing Director, LIC of India)

B Venugopal, (Managing Director, LIC of India)

TC Suseel Kumar, (Managing Director, LIC of India)

Vipin Anand Managing Director, LIC of India

Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai.

NEW INDIA ASSURANCE CO. LTD, founded by Sir Dorabji Tata in 1919, a Multinational General Insurance Company operates in 28 countries and headquartered at Mumbai, India. Our global business crossed Rs. 22,270 crores in March 2017.

Girish Radhakrishnan is Chairman cum Managing Director of UIIC.

The headquarter of NIACL is in Mumbai.

United India Insurance Company Limited was incorporated as a Company on 18th February 1938. General Insurance Business in India was nationalized in 1972.

Mr. Atul Sahai is present Chairman cum Managing Director of NIACL.

Chennai is the Head Office of UIIC.

The Oriental Insurance Company Ltd was incorporated at Bombay on 12th September 1947. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country). In 2003 all shares of our company held by the General Insurance Corporation of India have been transferred to Central Government.

Kolkata is the Head Office of National Insurance Company Limited (NICL).

There are several money market instruments, including treasury bills, commercial paper, bankers' acceptances, deposits, certificates of deposit, bills of exchange, repurchase agreements, federal funds, and short-lived mortgage and asset-backed securities.

CP can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. However, the maturity date of the CP should not go beyond the date up to which the credit rating of the issuer is valid.

Money laundering is the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean"). Typically, it involves three steps: placement, layering, and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean".

A mixed economy is defined as an economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or markets and economic interventionism.

Cost push inflation is inflation caused by an increase in prices of inputs like labour, raw material, etc. The increased price of the factors of production leads to a decreased supply of these goods.