On August 27, 2021, the Ministry of Finance has issued the notification regarding enforcement date for the provisions of the General Insurance Business (Nationalisation) Amendment Act, 2021 which shall come into force on August 27, 2021.
The objective of the General Insurance Business (Nationalisation) Amendment Act, 2021 to nationalise all private companies undertaking general insurance business in India.
Read our previous story for the highlights of the Act, HERE
