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[ Tue, Feb 18th ]: Oneindia
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Need More FDI, PSU insurers recovering, internal talks on insurance bill done, says FM

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Finance Minister Nirmala Sitharaman said internal consultations on the Insurance Amendment Bill have been completed, with further FDI reforms planned to deepen the sector.
Finance Minister Nirmala Sitharaman has indicated that the Indian government is considering amendments to the insurance laws to increase the foreign direct investment (FDI) cap in the insurance sector from 74% to 100%. This move is part of ongoing internal discussions aimed at enhancing the sector's growth and attracting more foreign investment. Additionally, there are talks about potentially privatizing one or more public sector insurance companies, although no final decisions have been made. The discussions also cover the possibility of merging or restructuring public sector banks and insurance companies to improve efficiency and competitiveness. These considerations come in the context of broader financial sector reforms, with the government looking to bolster the insurance industry's role in the economy.

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