The Insurance Laws (Amendment) Bill aims to raise FDI in insurance to 49%

Mumbai: The Insurance Laws (Amendment) Bill aims to raise the foreign direct investment (FDI) in insurance sector to 49 per cent, as compared to its current level of 26 per cent. This Bill will soon be introduced in the current session of Parliament.

Finance Minister, Arun Jaitley had proposed to raise the cap to 49 per cent. In order to increase the level of FDI to 49%, the Foreign Investment Promotion Board (FIPB) needs to give out an approval on this. As per official reports, the FDI limit in the insurance sector is expected to be raised from Rs 40,000 crore to Rs 60,000.

Reliance Capital and Max India shares increased by 4 per cent.