General Insurance business (nationalization) act 1972
1. To provide for the acquisition and transfer of share of Indian Insurance companies and undertaking of other existing insurers.
2. To serve better the need of the economy by securing the development of General Insurance business in the best interest of the community.
3. To ensure that the operation of the economics system does not result in the concentration of wealth to the common detriment.
4. For the regulation and control of such business and for matters connected there with or incidental there to.
1. To provide for the acquisition and transfer of share of Indian Insurance companies and undertaking of other existing insurers.
2. To serve better the need of the economy by securing the development of General Insurance business in the best interest of the community.
3. To ensure that the operation of the economics system does not result in the concentration of wealth to the common detriment.
4. For the regulation and control of such business and for matters connected there with or incidental there to.