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In a landmark moment for the insurance sector, the Insurance Laws (Amendment) Bill was approved by the Cabinet of ministers in July. It was then introduced in the Lok Sabha where it has met with opposition. This is primarily because the bill raises the FDI in insurance sector to 49% from the current 26% which has stoked concerns about ceding control to foreign players in a sensitive sector.
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While the debate rages on about whether FDI increase in the sector is desirable, here’s a quick overview of the situation:
Why Increased FDI in Insurance is a Positive Step:
How This Bill Affects You:
The Insurance Bill:
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