Insurance Amendment Bill Unlikely To Be Presented In Winter Session, Says Report
2 weeks, 2 days ago

Insurance Amendment Bill Unlikely To Be Presented In Winter Session, Says Report

ABP News  

The Insurance Amendment Bill might not be introduced in the Parliament in the current winter session, media reports said. The bill proposes 100 per cent foreign direct investment in the insurance sector. The Finance Ministry has suggested a revision in several provisions of the Insurance Act, of 1938, such as hiking the FDI limit in the insurance sector to 100 per cent, reduction in the paid-up capital, and provision for composite licence. Earlier in December 2022, the ministry called in for feedback on the recommended changes to the Insurance Act 1938, the Life Insurance Corporation Act 1956, and the Insurance Regulatory and Development Authority Act, 1999.

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