Increase of FDI ceiling in Insurance Industry to 49 per cent. Raising the cap will provide enough incentive to foreign companies to invest in Indian insurance sector. This will create required capital in the industry and help the sector expand much faster.
The JV, Edelweiss Tokio Life Insurance (ETLI), will soon apply to the Insurance Regulatory & Development Authority to get its nod to start operations, which may take eight months to one year time from now, Edelweiss Capital's Chairman Rashesh Shah said.
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
London Olympics bronze medallist MC Mary Kom declared her intention to bow out on a high at the Rio Games in 2016, saying it could be her last tournament.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
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Foreign investment cap in insurance sector raised to 49 per cent.
The insurance sector is seeking clarity on the 'Indian management control' clause.
Insurance firms want more clarity before increasing foreign partner's stake.
Brand associations have helped Priyanka Chopra-starrer gain traction in traditional and digital media.
Lenders are not enthused because, as brokers, their responsibility towards policyholders will be higher than corporate agents.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
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