The
Government had introduced the Insurance Laws (Amendment) Bill, 2008 in the
Rajya Sabha on 22.12.2008. The Bill, inter-alia, provides for holding of equity
shares in Indian insurance companies by a foreign company, either by itself or
through its subsidiary companies or its nominees to not exceed forty-nine
percent of paid up equity capital. An increase in foreign equity share limit in
insurance sector will potentially enable additional capital flows into the
sector.
Assessing and obtaining stakeholders` views through various means is a regular feature of Government functioning, including in the insurance sector.
This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha today.
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