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The Union Cabinet has approved changes to the Insurance Act that will allow for ______ foreign direct investment in the industry.(March 2021)
  • a)
    68%
  • b)
    74%
  • c)
    85%
  • d)
    90%
  • e)
    60%
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
The Union Cabinet has approved changes to the Insurance Act that will ...
  • The Union Cabinet has approved changes to the Insurance Act that will allow for 74% foreign direct investment in the industry.
  • The allowable FDI cap in life and general insurance is currently set at 49 percent, with Indian ownership and management control.
  • According to reports, the Cabinet approved amendments to the Insurance Act of 1938 during its meeting.
  • The government raised the foreign direct investment ceiling in the insurance sector from 26% to 49% in 2015.
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