Insurance Amendment Bill unlikely in winter session

Bill seeks to increase FDI limit in insurance companies from 74% to 100%, reduction in paid-up capital and provision for composite licence

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may not be introduced in Parliament in the ongoing session, sources said.

Some finetuning may be required in the draft Bill after receiving comments from stakeholders, sources said.

Given the paucity of time, it is difficult to present the Bill in the ongoing session, sources said, adding it may, however, come in the Budget session.