Arun Jaitley calls insurers meet, seeks views on FDI cap

Jun 24 2014, 13:21 IST
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Arun Jaitley asked the department of financial services to examine ways other than hiking the FDI cap for insurers to increase their capital. (PTI) Arun Jaitley asked the department of financial services to examine ways other than hiking the FDI cap for insurers to increase their capital. (PTI)
SummaryInsurance Laws (Amendment) Bill to hike FDI limit to 49% is pending.

Thursday

Liberalising FDI in insurance is seen one of the long pending reforms that has been pending since the term of UPA-I.

Under current laws, FDI in insurance is capped at 26 per cent although the Insurance Laws (Amendment) Bill to hike the limit to 49 per cent has been pending.

Soon after taking charge at North Block late last month, Jaitley had asked the department of financial services to examine ways other than hiking the foreign direct investment cap for insurers to increase their capital.

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