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Govt to further relax rules for FDI in insurance sector
Hindustan Times Jammu
|February 04, 2025
The latest reforms are aimed at bringing more foreign capital into the sector
NEW DELHI: The government plans to further liberalize foreign investment rules for insurance companies by removing the condition that mandates the presence of Indian residents in the boards and top management of insurance entities, said top finance ministry officials.
The insurance reforms bill will be introduced in the ongoing budget session of parliament, one of these officials said.
In her Budget speech on Saturday, finance minister Nirmala Sitharaman announced the government would allow foreign entities to fully own insurance companies in India by increasing the foreign direct investment (FDI) limit from 74% to 100%.
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