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US lawmakers back India's move to raise FDI in insurance sector to 74%

US lawmakers back India s move to raise FDI in insurance sector to 74%
We are very encouraged by the inclusion of a proposal to raise the limit on foreign direct investment in the Indian Insurance sector from 49 per cent to 74 per cent, Congressman Brad Sherman and Steve Chabot said
PTI | April 17, 2021 | Updated 12:10 IST
Two influential US lawmakers have applauded the Indian government s move to increase foreign direct investment in the insurance sector from the existing 49 per cent to 74 per cent, saying it will further deepen bilateral trade and investment. India s Parliament last month passed the Insurance Amendment Bill 2021 to increase the foreign direct investment (FDI) limit in the insurance sector. ....

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Bill to hike FDI in insurance sector to 74% tabled in Rajya Sabha

Bill to hike FDI in insurance sector to 74% tabled in Rajya Sabha
The amendments to Insurance Act propose to appoint resident Indians on majority of directors on the board and key management positions, with at least 50 per cent of directors being independent directors
BusinessToday.In | March 15, 2021 | Updated 23:30 IST
Finance Minister Nirmala Sitharaman has tabled a Bill in Rajya Sabha to amend the Insurance Act to increase foreign direct investment (FDI) in the sector to 74 per cent from 49 per cent.
The Union Cabinet had approved the amendments listed in the Insurance Amendment Bill 2021 last Wednesday. It aims to amend FDI provisions in Insurance Act 1938. ....

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Bank staff to go on strike on March 15, 16

Bank staff to go on strike on March 15, 16
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The bank employees and officers, under the aegis of the United Forum of Bank Unions (UFBU), will go on a two-day strike on March 15 and 16 opposing privatisation of public sector banks.
Addressing a press conference here on Thursday, Krishna District Bank Employees’ Coordination Committee (KDBECC) secretary Y. Srinivasa Rao said that the UFBU in a meeting held at Hyderabad on February 9, had decided to launch a battle against all the retrograde, anti-people and anti-worker policies of the Central government.
The UFBU opposed the government’s move to privatise two public sector banks along with the IDBI Bank. It also opposed disinvestment in LIC, allowing FDI in the insurance sector up to 74%, aggressive disinvestment and sale of public sector undertakings, he said. ....

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