FOREIGN STAKE IN INSURANCE MAY BE CAPPED AT 26%
Article Abstract:
The government may restrict foreign stake in proposed private insurance companies to 26 percent and abandon its plans to allow foreign institutional investors, overseas corporate bodies and non-resident Indians to acquire a 14 percent stake in them. The government proposes to permit insurance companies up to six years to dilute the stake of the original promoters to 26 percent. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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RBI MAY ALLOW BANKS TO ENTER INSURANCE SECTOR
Article Abstract:
The Reserve Bank of India is likely to permit banks to enter the insurance sector. Its guidelines for banks entering the insurance sector will be made public once the Insurance Regulatory Authority Bill is passed. Banks may also be allowed to sell policies issued by other insurance companies at their branches. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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