https://www.taxtmi.com/news?id=23699 The Budget proposes amending the Insurance Act, 1938 to raise the permissible FDI cap and allow greater foreign ownership and control with safeguards to attract capital and increase insurance penetration. This could enable foreign JV partners to increase stakes, bring new majority-preferring investors, and broaden product choice and pricing. The effect depends on the implementing conditions: board control limits, regulatory approvals, dividend conditionalities, and measures the regulator may require to protect policyholder funds. en-us Mon, 08 Feb 2021 14:44:12 +0530 Mon, 08 Feb 2021 14:44:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23699 The Budget proposes amending the Insurance Act, 1938 to raise the permissible FDI cap and allow greater foreign ownership and control with safeguards to attract capital and increase insurance penetration. This could enable foreign JV partners to increase stakes, bring new majority-preferring investors, and broaden product choice and pricing. The effect depends on the implementing conditions: board control limits, regulatory approvals, dividend conditionalities, and measures the regulator may require to protect policyholder funds. News - Mon, 08 Feb 2021 14:44:12 +0530 https://www.taxtmi.com/news?id=23699