Draft bill seeking 100% FDI in insurance to be sent to Cabinet soon: DFS

Quick Summary:

The finance ministry will soon send the draft bill seeking to increase FDI limit in the insurance sector to 100 per cent to the Union Cabinet for its approval, Financial Services Secretary M Nagaraju said on Monday.

Finance Minister Nirmala Sitharaman in her Budget speech proposed to raise the foreign investment limit to 100 per cent from existing 74 per cent in the insurance sector as part of new-generation financial sector reforms.

The intent of the Department of Financial Services (DFS) is to get the bill introduced during the current Budget session, he said.

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Category: BusinessFinance

Markets: India

Topics: Insurance Insurance FDI Cabinet Draft bill FDI Cabinet DFS Secretary

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-03 @ 16:20:20 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 479 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 25788192

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