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LIVE: Rajya Sabha passes bill to hike FDI in insurance sector to 74%

By raising the FDI limit to 74%, the current provision of control being vested with Indian companies had to be dropped. Stay tuned for Latest LIVE news

Today News | FDI | FDI in insurance

BS Web Team  | New Delhi 


Latest news live updates: Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.

Meanwhile, the Delhi High Court today upheld the Singapore's Emergency Arbitrator's (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant .
Earlier in the day, the Telangana government presented a tax-free Budget for 2021-22, proposing a total expenditure of Rs 2,30,825.96 crore with major allocations made for panchayat raj and rural development, agriculture, irrigation, social security pensions and others.

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First Published: Thu, March 18 2021. 08:14 IST