Question

Name the committee formed by the Insurance Regulatory and Development Authority of India (IRDAI) to review the Insurance Act, 1938:

• A. Arvind Subramanian Committee
• B. Chakravarty Committee
• C. T. S. Vijayan Committee
• D. Dinesh Khara Committee

Hint:

Insurance Act Review Committee \[ \boxed{\text{T. S. Vijayan Committee}} \] Frequently asked in insurance and regulatory law examinations.

Answer 1

The Correct Option is C

Step 1: Read the question.
We need the committee IRDAI set up to review the Insurance Act, 1938.

Step 2: Recall the purpose.
The review aimed to modernise the old Act, improve flexibility and boost insurance reach.

Step 3: Identify the chairperson.
The committee was headed by T. S. Vijayan, a former Chairman of IRDAI, so it is called the T. S. Vijayan Committee.

Step 4: Rule out the others.
Arvind Subramanian is linked to economic and GST reforms, Chakravarty to monetary policy, and Dinesh Khara to banking.

Answer: T. S. Vijayan Committee (Option 3).