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of <h1>Foreign Investment in LIC Permitted Up to 20% Under Automatic Route with New Definitions and Conditions</h1> The circular amends India's FDI policy to permit foreign investment in Life Insurance Corporation of India (LIC) with a 20% cap under automatic route. It clarifies definitions of terms like 'Capital,' 'Indian Company,' and 'Real Estate Business,' while establishing specific conditions for LIC's foreign investment. The amendments include new provisions for Share Based Employee Benefits, bifurcation of insurance sector conditions between regular insurance companies and LIC, and modifications to rules regarding mergers and employee stock options. These changes aim to ensure consistency and clarity in the existing FDI policy framework.
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