Foreign investment policy change allows investment in insurance via automatic route subject to regulator verification and rule substitution.
The amendment permits foreign investment in Indian insurance companies up to forty nine per cent of total paid up equity on the automatic route, subject to verification by the Insurance Regulatory and Development Authority of India; it substitutes rule 5 of the 2015 Rules with this provision and omits rule 6, enacted under the Insurance Act and the Insurance Regulatory and Development Authority Act, effective on publication in the Official Gazette. (AI Summary)

Auditor appointment: Bill removes annual member ratification and eases rules on loans, remuneration and private placements.
Proposed amendments streamline appointment, related-party financing, managerial pay, and private placement rules. Auditors would no longer require annual member ratification. Loans, advances and guarantees to persons in which a director is interested would be permitted if approved by a special resolution. Managerial remuneration exceeding prescribed limits would no longer require special resolution or Central Government approval. Private placement procedures would be simplified by removing a separate offer letter requirement and reducing filings with the registrar. (AI Summary)