THE INSURANCE (AMENDMENT) BILL, 2021
Where this law is right now
🏛️ Became law (Act)
Plain-language summary (AI-generated) — a quick read so you don't have to open the full PDF. May contain errors; the original document below is authoritative.
What does this law do?
This law raises the maximum foreign investment limit in Indian insurance companies from 49% to 74% of paid-up equity capital, allowing greater foreign ownership with safeguards.
Who it affects
Indian insurance companies
Key provisions
- Raises foreign investment limit from 49% to 74% of paid-up equity capital
- Omits Explanation to section 27 of Insurance Act, 1938
- Amends section 114 to include conditions for foreign investment
| Source body | Parliament of India — Bills (Lok Sabha & Rajya Sabha) |
| Reference number | XX |
| Status | closed (section: bill) |
| Year | 2021 |
| Closing date | — |
| Documents | 3 |
Highlights & Points worth asking
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Documents
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Bill_passed_both
THE-INSURANCE-AMENDMENT-BILL-2021-bill_passed_both.pdf
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Bill_introduced
2021-03-15
THE-INSURANCE-AMENDMENT-BILL-2021-bill_introduced.pdf
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Bill_passed_rs
2021-03-18
THE-INSURANCE-AMENDMENT-BILL-2021-bill_passed_rs.pdf
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