Insurance Sector & Consumer Protection

The Nationalization of the Insurance Sector in India: Implications for Consumer Protection and Industrial Development

Authors

  • Jitender Singh
  • Dr. K. K. Upadhyay

Keywords:

Insurance Sector, Consumer Protection, Government of India, private life insurers, provident societies, nationalized monopoly corporation, Life Insurance Corporation, Nationalization, industrialization, State lead planning

Abstract

The  Governmentof  India in  1956,  brought together  over  240 private  life insurers and  provident societies  under  one nationalized  monopoly corporation  and Life  Insurance Corporation (LIC)was born. Nationalization was justified on the grounds that it would createmuch-needed funds for rapid industrialization. This was in conformity with theGovernment's chosen path of State lead planning and development.

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Published

2013-04-01

How to Cite

[1]
“Insurance Sector & Consumer Protection: The Nationalization of the Insurance Sector in India: Implications for Consumer Protection and Industrial Development”, JASRAE, vol. 5, no. 10, pp. 0–0, Apr. 2013, Accessed: Jun. 30, 2024. [Online]. Available: https://ignited.in/jasrae/article/view/4854

Issue

Vol. 5 No. 10 (2013): Journal of Advances and Scholarly Researches in Allied Education (JASRAE)

Section

Articles

How to Cite

[1]
“Insurance Sector & Consumer Protection: The Nationalization of the Insurance Sector in India: Implications for Consumer Protection and Industrial Development”, JASRAE, vol. 5, no. 10, pp. 0–0, Apr. 2013, Accessed: Jun. 30, 2024. [Online]. Available: https://ignited.in/jasrae/article/view/4854