Foreign insurance policy holdings by resident persons are governed under FEMA through the insurance regulatory framework. Holding by persons resident in India of general or life insurance policies issued by insurers outside India is regulated under the Foreign Exchange ... Summary
Foreign insurance policy holdings by resident persons are governed under FEMA through the insurance regulatory framework.
Holding by persons resident in India of general or life insurance policies issued by insurers outside India is regulated under the Foreign Exchange Management (Insurance) Regulations, 2015. The framework is made under the rule-making power in the Foreign Exchange Management Act, 1999, supersedes the earlier foreign exchange insurance framework, and takes effect upon publication in the Official Gazette.
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