Insurance Amendment Bill, 2021 passed in Rajya Sabha; FDI limit hiked from 49 to 74%: Quick Highlights

Insurance Amendment Bill, 2021 passed in Rajya Sabha; FDI limit hiked from 49 to 74%: Quick Highlights

Insurance Amendment Bill, 2021 passed in Rajya Sabha; FDI limit hiked from 49 to 74%: Quick Highlights

The Rajya Sabha has passed the Insurance (Amendment) Bill, 2021. It seeks to amend the Insurance Act, 1938 which will increase the limit of foreign investment allowed in Indian insurance companies.

Quick Highlights - Insurance Amendment Bill, 2021; FDI limit hiked from 49 to 74%

The Bill provides to increase the foreign direct investment limit from existing 49 percent to 74 percent. It also has a provision for removal of restrictions on ownership and control of the insurance companies.(inp: newsOnair)

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