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of <h1>India Raises Foreign Investment Cap in Insurance Sector to 49% via Automatic Route, Amends 2015 Rules.</h1> The Indian Insurance Companies (Foreign Investment) Amendment Rules, 2016, issued by the Ministry of Finance, amends the 2015 rules regarding foreign investment in Indian insurance companies. The amendment allows foreign investment proposals up to 49% of the total paid-up equity of an Indian insurance company via the automatic route, subject to verification by the Insurance Regulatory and Development Authority of India. Additionally, rule 6 of the 2015 rules has been omitted. These changes come into effect upon their publication in the Official Gazette.
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