Insurance Amendment Bill 2021 seeking to raise FDI cap to 74% passed in Lok Sabha
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The parliament on Monday passed the Insurance (Amendment) Bill, 2021, which seeks to raise the FDI cap to 74 per cent from 49 per cent. During the discussion on the Bill in the Lok Sabha, Finance Minister Nirmala Sitharaman said that raising the FDI limit in the insurance sector was necessary to help insurers deal with issues concerning financial stress.