Review of Foreign Direct Investment Policy (FDI) on Insurance Sector

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....Sector. The Government of India has liberalized its Foreign Direct Investment policy on Insurance Sector. Accordingly, Paragraph 6.2.18.7 of `Consolidated FDI Policy Circular 2015', effective from 12.5.2015, is amended to read as below: S. No. Sector/Activity % of Equity/ FDI Cap Entry route 6.2.18.7 Insurance 6.2.18.7.1 (i) Insurance Company (ii) Insurance Broker....

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.... of India. (c) Foreign investment in the sector is subject to compliance of the provisions of the Insurance Act, 1938 and the condition that Companies bringing in FDI shall obtain necessary license from the Insurance Regulatory & Development Authority of India for undertaking insurance activities. (d) An Indian insurance company shall ensure that its ownership and control remains at all time....

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....ance Intermediaries appointed under the provisions of the  Insurance Regulatory and Development Authority Act,1999 (41 of 1999): (h) Provided that where an entity like a bank, whose primary business is outside the  insurance area, is allowed by the Insurance Regulatory and Development Authority  of India to function as an insurance intermediary, the foreign equity investment caps....