What is the difference between inline policy and managed policy in AWS?

 Inline Policy :

This policy is manually created by you in two ways one in JSON format and one is visual editor format. And this policy will be applicable to only one specific role, in which role you have created it.

If you want to use the same inline policy to other role that is not possible. Here is the screenshot for reference.

Managed Policy :

This policy is already created by AWS or we can also create this policy under policy section for IAM. And this policy can be used by other role also.

Steps for Creating the Inline policy :

1] Open the IAM service in AWS
2] Select the Roles from left hand side in IAM Dashboard, Select the roles in which you have to create the Inline policy.
3] In the right hand side we will see add inline policy. select that 'Add Inline policy'
4] select from the visual editor, service, action, resources and click on the review policy.
5] Give the name of policy and save it.

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