Insurance Bill
Move to raise FDI in insurance sector flayed
The Union government should withdraw the Insurance Bill that envisaged enhancement of foreign direct investment in the insurance sector from 26 per cent to 49 per cent, the All India Insurance Corporation Employees Association (AIIEA) has demanded.
Read moreInsurance Bill retains proposal to raise FDI cap to 49%
Despite a parliamentary standing committee’s firm stand against hiking the 26% foreign direct investment cap in insurance, the government has decided to approach Parliament with its original proposal to hike the limit to 49%, considering the sector’s huge capital needs. Read more
Best to buy online insurance in 2013
The budget laid down new rules for the insurance sector in 2012. The premium will be eligible for tax deduction and the income will be tax-free only if the insurance cover is 10 times the annual premium. The change forced companies to rejig their policies because tax considerations continue to drive insurance sales in India. Read more
Insurance Bill likely in current session: Government
The government is likely to introduce amendments to the Insurance Bill in the current session for raising FDI cap in private sector insurance companies to 49 per cent, Parliament was informed. “…the official amendments to the (Insurance) Bill is likely to be introduced in the current session of Parliament. Read more