Cabinet to approve pension, insurance bills

That seek to permit 26% FDI in the pension sector and 49%in the insurance sector

The cabinet will approve amended bills on Thursday that seek to permit 26% foreign direct investment (FDI) in the pension sector and 49%in the insurance sector, a minister told reporters on Wednesday.

The bills will need parliamentary approval before becoming law. Currently, India does not allow FDI in the pension sector, while foreign investment in insurance is capped at 26%.