IRDA News: Insurance FDI may lure Rs 30k cr: IRDA

The increase in FDI limit in the insurance sector may attract Rs 30,000 crore that  the industry requires over the next five years, Insurance Regulatory and  Development Authority (IRDA) has said.

A day after the Centre announced its decision to allow up to 49 per cent Foreign  Direct Investment (FDI) in insurance, IRDA Chairman J Hari Narayan said the move  was essential as inflows are necessary for the sector to grow at 11 to 12 per cent. Read more