Cross-border insurance: residents may hold foreign policies subject to regulatory permission and repatriation requirements. Resident Indians may take or continue certain foreign-issued health and life insurance policies only under specified permissions and subject to Liberalised Remittance Scheme limits; policies covering Indian property or Indian-registered vessels require prior regulatory permission; premiums paid by remittance and any maturity proceeds or claims must be repatriated to India through normal banking channels within a short prescribed period; SEZ units may hold specified general policies abroad with central government permission.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cross-border insurance: residents may hold foreign policies subject to regulatory permission and repatriation requirements.
Resident Indians may take or continue certain foreign-issued health and life insurance policies only under specified permissions and subject to Liberalised Remittance Scheme limits; policies covering Indian property or Indian-registered vessels require prior regulatory permission; premiums paid by remittance and any maturity proceeds or claims must be repatriated to India through normal banking channels within a short prescribed period; SEZ units may hold specified general policies abroad with central government permission.
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