The Insurance (Amendment) Act, 2021 shall come into force, once notified in the official gazette. The Act increases the Foreign Direct Investment (FDI) limit in the sector to 74 percent and removes restrictions on ownership and control. However, such foreign investment may be subject to additional conditions as prescribed by the Central Government.
For more details on the Act, read our previous story HERE
*Tanvi Singh, Editorial Assistant has put this story together.