November 29, 2024 6:48 PM

Govt proposes to increase FDI limit in insurance sector to 100%, seeks public comments

The central government has announced several proposals aimed at reforming the insurance sector, including raising the Foreign Direct Investment (FDI) limit for Indian insurance companies from 74% to 100%. The move is part of broader efforts to foster growth and development within the sector. In addition to the FDI increase, the government is also proposing to enable insurers to offer one or more classes of insurance business and activities. Another key proposal involves reducing the required Ne...