Business & Finance
Business and Finance
Business and Finance
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India plans to raise FDI limit to 100% in insurance, amend key provisions of 1938 Act
- Finance ministry proposes amendments to Insurance Act of 1938, including raising FDI to 100%, seeking public comments by December 10.
India is planning to increase the Foreign Direct Investment (FDI) limit in the insurance sector from the current 74% to 100%, aiming to attract more capital and enhance the sector's growth. This proposal is part of a broader amendment to the Insurance Act of 1938, which also includes changes to allow insurers to offer other financial products like mutual funds and pension products. The government's move is intended to modernize the regulatory framework, increase insurance penetration, and provide more options to consumers. Additionally, these amendments will facilitate easier business operations for insurance companies by simplifying regulations around capital requirements, solvency margins, and investment norms. The changes are expected to be discussed in the upcoming Winter Session of Parliament.
Read the Full Business Line Article at [ https://www.thehindubusinessline.com/money-and-banking/india-plans-to-raise-fdi-limit-to-100-in-insurance-amend-key-provisions-of-1938-act/article68928429.ece ]
Read the Full Business Line Article at [ https://www.thehindubusinessline.com/money-and-banking/india-plans-to-raise-fdi-limit-to-100-in-insurance-amend-key-provisions-of-1938-act/article68928429.ece ]
