 "nirmala sitharaman")
The Bill to hike the foreign direct investment (FDI) limit in the insurance sector to 74 per cent provides adequate safeguards so that control, ownership, and money collected from policyholders stays within the country, Finance Minister Nirmala Sitharaman told Parliament on Thursday.
Insurance is a highly regulated sector where every product, its pricing, investment and marketing is regulated in the country, Sitharaman said in response to a debate on the Bill in the Rajya Sabha. The Bill was later passed by the Upper House.
The decision to increase the FDI limit from the current 49 per cent was taken after the sector’s
