Consider the following statements regarding Bima Trinity: 1. It was launched during the 10th Bima Manthan. 2. It aims to make insurance more accessible, affordable, and efficient. 3. It is a four-pronged approach to address gaps in insurance coverage. Mark the correct statement from the above using the codes given below:
Only 2
Why in the News?
"IRDAI Launches Bima Trinity to Boost Insurance Access”
Statement 1: incorrect
Bima Trinity was unveiled at the 9th Bima Manthan, a key event for the insurance sector, held in February 2025. This platform allowed IRDAI and insurance CEOs to discuss industry performance and future strategies, including the launch of this transformative initiative.
Statement 2: correct
Bima Trinity's core objective is to revolutionize the insurance landscape by enhancing accessibility, affordability, and efficiency. It seeks to bridge the gap in insurance coverage, ensuring that insurance products are within reach for a broader population and delivered more effectively.
Statement 3: incorrect
Bima Trinity is structured as a three-pronged approach. These three components work in concert to address critical shortcomings in insurance access and coverage across India, marking a comprehensive strategy for industry improvement.
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Important Questions from Banking Affairs
As per the provisions of Union Budget 2021-22, how many public sector banks have been lined up for disinvestment?
What is the repo rate given by the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) as on 7 April 2021?
On 25 September 2020,_________ announced that they will launch a contactless debit card-based payment facility through phones called 'Safe Pay', allowing transactions up to ₹20,000 per day.
In November 2020, India and _________ jointly launched Phase 2 of the Rupay card.
In November 2020, the Union Cabinet of India approved the merger of capital-starved Lakshmi Vilas Bank (LVB) with _______________.
