Union Budget 2021: ICICI Lombard, ICICI Prudential, SBI Life shares rally 3-6% after Nirmala Sitharaman raises FDI limit for insurance
In a proposal to amend the Insurance Act 1938, FM Nirmala Sitharaman increased foreign direct investment limit for the insurance sector to 74 percent from 49 percent earlier. February 02, 2021 / 03:07 PM IST
Insurance stocks rallied 3-6 percent after Finance Minister Nirmala Sitharaman, in her Union Budget 2021 speech, increased the foreign direct investment limit for the insurance sector to 74 percent.
In a proposal to amend the Insurance Act 1938, the government increased foreign direct investment limit for the insurance sector to 74 percent from 49 percent earlier. The increase in FDI limits from 49 percent to 74 percent for the insurance sector is a welcome step and will help insurance companies to raise funds to ensure their solvency is maintained in line with growing business needs, said Manoj Purohit, Partner and Leader – Financi
Home » Website » Business » Union Budget 2021: Centre Proposes To Hike FDI Cap To 74 Percent From 49 Percent In Insurance Sector
Union Budget 2021: Centre Proposes To Hike FDI Cap To 74 Percent From 49 Percent In Insurance Sector
It was in 2015 when the government hiked the foreign direct investment (FDI) limit in the insurance sector from 26 per cent to 49 per cent.
Representational Image Outlook Web Bureau 2021-02-01T15:28:59+05:30 Union Budget 2021: Centre Proposes To Hike FDI Cap To 74 Percent From 49 Percent In Insurance Sector outlookindia.com 2021-02-01T15:34:23+05:30
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In a major move, Finance Minister Nirmala Sitharaman on Monday proposed to increase foreign direct investment (FDI) limit in the insurance sector to 74 per cent from the current 49 percent cap, a move aimed at attracting greater overseas capital inflows to help enhance insurance penetration in the country.
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