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Who are allowed to set up units at IFSC Special Economic Zones (SEZ), as per IRDAI’s (Insurance Regulatory and Development Authority of India) new guidelines on International Financial Service Centre Insurance Offices (IIO)?
  • a)
    IT Employees
  • b)
    Insurers
  • c)
    Government Employees
  • d)
    Bankers
  • e)
    Equity Share Holders
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Who are allowed to set up units at IFSC Special Economic Zones (SEZ), ...
Insurers and reinsurers can now set up facilities at IFSC Special Economic Zones (SEZ), as per IRDAI’s (Insurance Regulatory and Development Authority of India) new guidelines on International Financial Service Centre Insurance Offices (IIO). The Insurance Regulatory and Development Authority of India (Registration and Operations of International Financial Service Centre Insurance Offices) Guidelines, 2017 was issued on December 21, 2017. As per these guidelines, IIO means a branch office to transact direct insurance business or reinsurance business permitted by the regulator. These guidelines are for both Indian and foreign insurers and reinsurers, registered as IIO with IRDAI. They can do direct insurance business or reinsurance business transactions or both.
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Who are allowed to set up units at IFSC Special Economic Zones (SEZ), as per IRDAI’s (Insurance Regulatory and Development Authority of India) new guidelines on International Financial Service Centre Insurance Offices (IIO)?a)IT Employeesb)Insurersc)Government Employeesd)Bankerse)Equity Share HoldersCorrect answer is option 'B'. Can you explain this answer?
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