Finance Ministry May Take Up Insurance Bill In Winter Session
Oct 20, 2014, 19:13 IST
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The Insurance Bill, which seeks to raise the foreign direct investment (FDI) limit in the sector to 49%, is expected to be taken up in the Winter Session of Parliament, as per a media report.Experts say the reform is expected to bring FDI of about Rs 25,000 crore into the private insurance companies. This would help insurance firms get much-needed capital from overseas partners.
The Insurance Laws (Amendment) Bill, which is pending for a long time, has been caught in a logjam with the opposition parties insisting that it should be referred to a select committee.
The government had agreed to refer it to a 15-member Select Committee, which is expected to submit its report by the third week of November.