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FDI cap in insurance hiked to 49 pc

By The Assam Tribune
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NEW DELHI, July 24 � The Cabinet today gave the go-ahead to FDI cap hike in insurance to 49 per cent with a rider that management control will remain in the hands of Indian promoters, thus paving the way for inflow of as much as Rs 25,000 crore foreign funds in the sector, reports PTI.

The approval to hike the FDI limit from the current 26 per cent, a proposal which has been pending since 2008, is expected to attract long-term capital, besides improving the overall investment climate.

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FDI cap in insurance hiked to 49 pc

NEW DELHI, July 24 � The Cabinet today gave the go-ahead to FDI cap hike in insurance to 49 per cent with a rider that management control will remain in the hands of Indian promoters, thus paving the way for inflow of as much as Rs 25,000 crore foreign funds in the sector, reports PTI.

The approval to hike the FDI limit from the current 26 per cent, a proposal which has been pending since 2008, is expected to attract long-term capital, besides improving the overall investment climate.

More in Entertainment
Similar Posts