Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2026

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....ent (Non-debt Instruments) (Second Amendment) Rules, 2026. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, in Schedule I, in the Table, for serial number F.8 and the entries relating thereto, the following serial number and entries shall be substituted, namely: - SL. No. (1) Sector/ Activity (2) Sectoral Cap (3) Entry Route (4) "F.8 Insurance     F.8.1 Insurance Company 100% Automatic F.8.2 Life Insurance Corporation of India 20% Automatic F.8.3 Insurance Intermediaries including insurance brokers, reinsurance brokers, insurance consultan....

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....ian Citizens. (II) An Indian Insurance company having foreign investment shall comply with the provisions under the Indian Insurance Companies (Foreign investment) Rules, 2015 and the applicable rules or regulations notified by the Department of Financial Services or Insurance Regulatory and Development Authority of India, from time to time. (e) Foreign portfolio investment in an Indian Insurance company shall be governed by the provisions contained in Chapter-IV, rule 10 and 11 read with Schedule II of Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, and provisions of the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019. (f) Any increas....

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....at has majority shareholding of foreign investors shall undertake the following: (i) be incorporated as a limited company under the provisions of the Companies Act, 2013(18 of 2013); (ii) at least one from among the Chairman of the Board of Directors or the Chief Executive Officer or Principal Officer or Managing Director of the insurance intermediary shall be a resident Indian citizen; (iii) shall bring in the latest technological, managerial and other skills; and (iv) shall make disclosures in the formats to be specified by the Authority of all payments made to its group or promoter or subsidiary or interconnected or associate entities; (j) The other conditions under th....

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....s as respectively referred to them therein. Explanation. - For the purposes of this Sl. No., any reference to Indian insurance company or company referred to in clause (k) under Sl. No. F.8.3.1, shall be construed as a reference to LIC". [F. No. 1/5/EM/2019] ALOK TIWARI, Jt. Secy. Note: The Foreign Exchange Management (Non-debt Instruments) Rules, 2019 were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide number S.O.3732 (E), dated the 17th October, 2019 and subsequently amended vide the following notification numbers: (i) S.O. 4355 (E), dated the 5th December 2019; (ii) S.O. 1278 (E), dated the 22nd April, 2020; (iii) S.O. 1374 (E), dated the ....