The Union Cabinet-headed by Prime Minister Narendra Modi last week
approved the Insurance Laws (Amendment) Bill, 2008 with a composite
foreign investment cap of 49 percent, incorporating the changes
suggested by a House panel.
The Select Committee in its report to the Rajya Sabha had suggested hike in composite foreign investment limit in insurance sector to 49 percent which would include Foreign Direct Investment (FDI) as well as portfolio investment.
Currently only 26 percent FDI is allowed in private sector insurance companies.
The Select Committee in its report to the Rajya Sabha had suggested hike in composite foreign investment limit in insurance sector to 49 percent which would include Foreign Direct Investment (FDI) as well as portfolio investment.
Currently only 26 percent FDI is allowed in private sector insurance companies.
Source: Hindi News and Newspaper
No comments:
Post a Comment