Govt approves changes for increasing FDI limit in insurance to 74%

by Business | 11-03-2021 | 2671 views

NewDelhi: The Union Cabinet has approved changes to the Insurance Act for increasing the foreign direct investment (FDI) limit to 74% from 49%. Under the new structure, the majority of directors on the board and key management persons would be resident Indians. As per the data, life insurance premium as a percentage of GDP is 3.6% in the country.

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