IRDA Full Form: Insurance Regulatory and Development Authority, IRDA works as an organizational setup, and the chairman and members of IRDAI are appointed by the Government of India. At present, the work of IRDA is to protect and regulate the interests of the policyholders, promote economic and financial reforms of the policyholders, ensure the corrective growth of the insurance industry, ensure prompt settlement of the actual claims of the policyholders, and settle the claims. The process includes prevention of misbehavior, etc.
The Indian insurance industry is governed by the terms and conditions of IRDA. Monitoring and implementation of quality, qualification, and fair dealings of insurance companies in the Indian industry are taken care of by IRDA.
- IRDA Full Form in English: Insurance Regulatory and Development Authority
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- IRDA Full Form in Hindi: बीमा नियामक और विकास प्राधिकरण
- IRDA Full Form in Marathi: विमा नियामक आणि विकास प्राधिकरण
What is the full form of IRDA?
The full form of IRDA is the “Insurance Regulatory and Development Authority”, Insurance Regulatory Development Authority of India is a regulatory body, and this body has been created with the objective of protecting your interests. It controls the insurance industry and oversees its development, monitoring insurance-related activities. Now let’s get to other general information about it.
Insurance Regulatory and Development Authority is an apex national agency run by the Government of India, for your information, let us tell you that this national agency works to protect the interests of the policyholders, which controls and develops the insurance business in India, of IRDA.
The headquarter is located in Hyderabad City of Telangana and was constituted by the Government of India as IRDA Act in 1999 by an Act of the Indian Parliament. IRDA 2002 was amended keeping in view certain requirements of the Indian insurance industry, to regulate, promote and ensure the orderly growth of the insurance industry and for matters connected therewith or matters relating to accidental therapy. Under this Act, the Insurance Controller was replaced by a new authority named Insurance Regulatory and Development Authority under the Insurance Act 1398.
What is IRDA?
IRDA stands for Insurance Regulatory and Development Authority. It is an agency run by the Government of India. It regulates the insurance industry in India, the current Chairman of IRDA (as of March 2017) Mr. T.S. Vijayan.
IRDA is headquartered in Hyderabad, Andhra Pradesh (now in Telangana) since 2001, it was shifted there from Delhi. It was established after the passing of the Insurance Regulatory and Development Authority Act, 1999 by the Government of India.
IRDA Full Form in Animal Welfare
IRDA Meaning (Associations & Organizations)
To care for the health and well-being of this unique duck and to help those who keep, breed, and show pure Indian runners, the Indian Runner Dock Association was created. Indian Runners are a very special breed of domestic duck. When they were first imported into Europe about two hundred years ago, they attracted attention because of their long, upright bodies and their incredible reputation for laying eggs.
IRDA Full Form in Departments & Agencies
IRDA Meaning (Governmental)
The Insurance Regulatory and Development Authority (IRDA) is a national agency of the Government of India, constituted by an Act of the Indian Parliament as the IRDA Act 1999. The IRDA regulates and develops the insurance industry in India.
IRDA Full Form in Rules & Regulations
an IRDA Meaning (Governmental)
Iskander Regional Development Authority (“IRDA”) is a federal statutory body responsible for realizing the vision and objectives of Iskander Malaysia, that is, to be a metropolis of international standard. IRDA was established by a federal Act of Parliament – IRDA Act 2007 (Act 664). It is a single authority or single reference point for promotion, approval, implementation, and regulations, which aspires to adopt best practices benchmarked against world standards.
IRDA Meaning in various Indian Languages
|IRDA meaning in Arabic||هيئة تنظيم وتطوير التأمين|
|IRDA meaning in Bengali||বীমা নিয়ন্ত্রণ ও উন্নয়ন কর্তৃপক্ষ|
|IRDA meaning in English||Insurance Regulatory and Development Authority|
|IRDA meaning in Gujarati||વીમા નિયમનકારી અને વિકાસ સત્તામંડળ|
|IRDA meaning in Hindi||बीमा नियामक और विकास प्राधिकरण|
|IRDA meaning in Kannada||ವಿಮಾ ನಿಯಂತ್ರಣ ಮತ್ತು ಅಭಿವೃದ್ಧಿ ಪ್ರಾಧಿಕಾರ|
|IRDA meaning in Malayalam||ഇൻഷുറൻസ് റെഗുലേറ്ററി ആൻഡ് ഡെവലപ്മെന്റ് അതോറിറ്റി|
|IRDA meaning in Marathi||विमा नियामक आणि विकास प्राधिकरण|
|IRDA meaning in Nepali||बीमा नियामक र विकास प्राधिकरण|
|IRDA meaning in Punjabi||ਬੀਮਾ ਰੈਗੂਲੇਟਰੀ ਅਤੇ ਵਿਕਾਸ ਅਥਾਰਟੀ|
|IRDA meaning in Sindhi||انشورنس ريگيوليٽري ۽ ڊولپمينٽ اٿارٽي|
|IRDA meaning in Tamil||காப்பீட்டு ஒழுங்குமுறை மற்றும் மேம்பாட்டு ஆணையம்|
|IRDA meaning in Telugu||ఇన్సూరెన్స్ రెగ్యులేటరీ అండ్ డెవలప్మెంట్ అథారిటీ|
|IRDA meaning in Urdu||انشورنس ریگولیٹری اور ترقیاتی اتھارٹی|
FAQ’S For IRDA Full Form
Ans. Insurance Regulatory and Development Authority (IRDA) is an autonomous regulatory body that protects the interests of the policyholder. They oversee the growth of the insurance sector in India and also maintain a speedy development.
Ans. Many of you might have heard the term “IRDA”. It is nothing but the abbreviation of the Insurance Regulatory and Development Authority. The Authority acts as the regulator of the insurance industry in India and oversees the functioning of the Life Insurance and General Insurance companies operating in the country.
Ans. IRDA or the Insurance Regulatory and Development Authority of India is the apex body that supervises and regulates the insurance sector in India. The primary purpose of IRDA is to safeguard the interest of the policyholders and ensure the growth of insurance in the country.
Ans. Insurance Regulatory and Development Authority (IRDA) Act, 1999 spells out the Mission of IRDAI as: “… to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto……”