What is the full form of IRDA
(i) IRDA: Insurance Regulatory and Development Authority
IRDA stands for Insurance Regulatory and Development Authority. It is an agency run by Government of India. It regulates insurance industry in India. The current chairman (as of March, 2017) of IRDA is Mr. T.S. Vijayan.
IRDA is headquartered in Hyderabad, Andhra Pradesh (Now in Telangana) since 2001. It was shifted there from Delhi. It was established after passing the Insurance Regulatory and Development Authority Act, 1999, by the Government of India.
It is recently announced and set by Finance Minister of India. It provides a facility to help policy holders to buy and keep insurance policies in electronic form rather than in paper form. Insurance repository will hold the electronic records of insurance policy holders.
(ii) IrDA: Infrared DATA Association
Infrared Data Association is a group of device manufacturers. It is founded in 1993 by around 50 companies to create standards for infrared data transmission. The devices that conform to IrDA standards are compatible with one another for data transmission.
Its main task is to develop standards for transmitting data via infrared light waves. Infrared light is used to transfer data from one device to another device without using a cable or other connecting mediums. You have to just customize those devices with IrDA ports.
This technology is now out of use because of the development of Bluetooth.