A
Both 1 and 2
B
2 only
C
Neither 1 nor 2
D
1 only
Correct answer: (d) 1 only
Explanation
Statement 1 is correct because IRDAI is a statutory regulatory body established under the IRDA Act, 1999. Statement 2 is incorrect because IRDAI is headquartered in Hyderabad, not New Delhi. Therefore, only statement 1 is correct.
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