With reference to the Public Liability Insurance (Amendment) Rules, 2024, which of the following statements is/are correct?
1. The maximum insurance policy limit per incident involving hazardous substances has been increased to Rs. 250 crore.
2. The Reserve Bank of India (RBI) has been appointed as the new manager of the Environment Relief Fund (ERF).

Question

Accepted Answer

A. 1 only — Statement 1 is correct as the policy limit was increased from Rs. 5 crore to Rs. 250 crore per incident. Statement 2 is incorrect because the Central Pollution Control Board (CPCB), not the RBI, has been appointed as the Fund Manager replacing the United India Insurance Company Limited.

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