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Centre to table Insurance Bill in upcoming monsoon session
The Morning Standard
|June 27, 2023
THE Centre will introduce the much-awaited Insurance Laws (Amendment) Bill, 2022, in the upcoming monsoon session, a top government official told this newspaper. The Bill will pave the way for single entities via composite licence to enter into non-life insurance products and vice versa.
"The Bill will bring far-reaching reforms in the sector. The composite licence is one such big reform. The Bill proposes to remove ₹100 crore minimum paid-up equity capital requirement for carrying out insurance businesses in India," the government official said. He added that the changes in insurance law will facilitate entry of new players in market, giving further boost to economic development by creating job opportunities for the youth. "Amendments in Bill are aiming to provide financial security to the end consumers and better returns for the businesses. It will enable ease of d
Esta historia es de la edición June 27, 2023 de The Morning Standard.
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