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Govt to revamp LIC’s rules for surplus distribution to shareholders
About 5% of its surplus is allowed to be switched under a specific policy to the shareholder's fund by LIC.
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FDI proposal for bank-promoted insurance firm to be vetted by RBI, Irdai
These changes were made by amending the Foreign Exchange Management (Non-debt Instruments) Rules, 2019
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Insurance: Nirmala Sitharaman introduces Bill in Rajya Sabha to allow 74% FDI
Currently, the permissible FDI limit in life and general insurance stands at 49% with ownership and management control with Indians
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Cabinet approves 74% FDI limit in insurance sector
The move will provide a push to the insurance industry to scale up digital and infrastructure capabilities
