In which year Life insurance sector was Nationalized?

Q. In which year Life insurance sector was Nationalized?
Answer: 1956
Notes: Life Insurance was Nationalized in 1956 by the government of India. It was done through the life insurance corporation act, 1956.

This question is part of Banking Awareness - 2025-26 course in GKToday's Android Application. The Course comprises 2400+MCQs on Banking & General Financial Awareness with explanation for All Banking Exams of 2025-26 such as IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Banking Examinations.

📌 Question Number: 4 in History of Insurance in India in the above course in App.