https://www.taxtmi.com/circulars?id=54367 A consolidated foreign investment cap permits foreign equity up to forty nine percent in Indian insurance companies and designated intermediaries on the automatic route, subject to IRDAI verification and licensing and compliance with the Insurance Act, 1938. Ownership and control must remain with resident Indian entities as defined in the relevant notification. Foreign portfolio investment follows FEMA and SEBI rules; increases in foreign equity must comply with RBI pricing guidelines. The same cap and conditions apply to brokers, TPAs, surveyors, loss assessors and other IRDA appointed intermediaries; additional conditions govern bank promoted entities and non insurance primary business revenue thresholds for intermediaries. en-us Wed, 23 Mar 2016 00:00:00 +0530 Fri, 25 Mar 2016 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54367 A consolidated foreign investment cap permits foreign equity up to forty nine percent in Indian insurance companies and designated intermediaries on the automatic route, subject to IRDAI verification and licensing and compliance with the Insurance Act, 1938. Ownership and control must remain with resident Indian entities as defined in the relevant notification. Foreign portfolio investment follows FEMA and SEBI rules; increases in foreign equity must comply with RBI pricing guidelines. The same cap and conditions apply to brokers, TPAs, surveyors, loss assessors and other IRDA appointed intermediaries; additional conditions govern bank promoted entities and non insurance primary business revenue thresholds for intermediaries. Circulars FEMA Wed, 23 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54367