FDI in insurance approved from 26% to 49%
- 5 years ago
The cabinet has cleared the insurance (amendment) Bill which proposes to raise the foreign direct investment (FDI) cap to 49% from 26%.
“The cabinet has cleared raising the FDI cap in insurance to 49% from 26% subject to Indian management and control,” said a senior government official after the cabinet meeting. The official declined to be named.
Finance minister Arun Jaitley had proposed raising the foreign investment cap in insurance companies during the announcement of Union Budget 2014 to ensure adequate capital for this fund-starved sector.
For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive
“The cabinet has cleared raising the FDI cap in insurance to 49% from 26% subject to Indian management and control,” said a senior government official after the cabinet meeting. The official declined to be named.
Finance minister Arun Jaitley had proposed raising the foreign investment cap in insurance companies during the announcement of Union Budget 2014 to ensure adequate capital for this fund-starved sector.
For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive