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Homechevron_rightIndiachevron_rightInsurance bill passed...
India
Posted On
date_range 4 March 2015 7:40 PM GMT
Updated On
date_range 4 March 2015 7:40 PM GMT

Insurance bill passed in Lok Sabha

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Insurance bill passed in Lok Sabha
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New Delhi: The Lok Sabha on Wednesday passed the insurance sector amendment bill, which seeks to hike the foreign equity cap on domestic companies from 26 percent to 49 percent, despite opposition protests.

Formally called Insurance Laws (Amendment) Bill, it seeks to replace an ordinance that was promulgated earlier.

The bill now faces a crucial test in the Rajya Sabha, the upper house, where the ruling Bharatiya Janata Party (BJP) does not enjoy a majority.

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