A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
At present, a limit of 26 per cent is allowed only through the FDI route.
“The Committee recommends that the composite cap of 49 per cent should be inclusive of all forms of foreign direct investment and foreign portfolio investments,” said the report tabled in the Rajya Sabha.
(the hindu)