Foreign investment cap in insurance set under automatic route with IRDA licensing and regulatory compliance requirements updated policy The amendment replaces paragraph 6.2.17.7 to permit foreign investment in specified insurance-sector activities under the automatic route, subject to IRDA licensing. It applies banking-sector conditions to bank-promoted insurers, defines an Indian insurance company by Companies Act formation, aggregate foreign equity limits and single-purpose life or reinsurance activity, and incorporates IRDA regulations governing brokers, TPAs and surveyors. The decision takes immediate effect.
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Provisions expressly mentioned in the judgment/order text.
Foreign investment cap in insurance set under automatic route with IRDA licensing and regulatory compliance requirements updated policy
The amendment replaces paragraph 6.2.17.7 to permit foreign investment in specified insurance-sector activities under the automatic route, subject to IRDA licensing. It applies banking-sector conditions to bank-promoted insurers, defines an Indian insurance company by Companies Act formation, aggregate foreign equity limits and single-purpose life or reinsurance activity, and incorporates IRDA regulations governing brokers, TPAs and surveyors. The decision takes immediate effect.
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