Finance
TonyFinance Ministry Supercharges Insurance with 100% FDI
Hold onto your helmets, folks! The Finance Ministry just flipped the script on insurance with a dazzling 100% FDI approval. Now, only one top-tier player—CEO, MD, or chairperson—needs to be an Indian resident. This game-changer is all about turbocharging the new insurance law, making the future as bright as my arc reactor!
few days ago | Harsh Kumar
Quick rundown
1.India allows 100% FDI in insurance sector.
2.New rules require one top leader to be an Indian resident.
3.Majority Indian directors rule removed for foreign-invested insurers.
4.Rule 4A provisions for solvency and independent directors omitted.
5.Sabka Bima Sabki Raksha Act amends several insurance laws.
