‘Insurance FDI bill this session’
25 Nov 2012 4:37 AM IST
The government is likely to introduce amendments to the Insurance Bill in the current session for raising FDI cap in private sector insurance companies to 49 per cent, Parliament was informed on Friday.
'...the official amendments to the (Insurance) Bill is likely to be introduced in the current session of Parliament. The foreign equity cap is being raised in order to meet the growing capital requirement of the insurance companies,' Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.
The Bill, which has been pending in the Rajya Sabha since December 2008, provides for raising FDI cap in private sector insurance companies from 25 per cent to 49 per cent.
'...the official amendments to the (Insurance) Bill is likely to be introduced in the current session of Parliament. The foreign equity cap is being raised in order to meet the growing capital requirement of the insurance companies,' Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.
The Bill, which has been pending in the Rajya Sabha since December 2008, provides for raising FDI cap in private sector insurance companies from 25 per cent to 49 per cent.
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