FDI cap

Fulfilling this year's budget proposal, the Lok Sabha on March 22 passed the 'Insurance Amendment Bill 2021.' Reportedly, the Bill provisions to increase the FDI limit in the insurance sector to 74% from the earlier 49%. Moreover, it legislated to ensure that key management positions including the board of directors should be Indians with at least 50% directors as Indians. Strengthening ‘Indian Management Control’, the law provides Indian… read-more