MUMBAI: India is committed to clear the Insurance Amendment Bill that seeks to bring in more foreign investments in the sector, Junior Finance
"They are under preparation and being given final shape for discussion in parliament," he said on the sidelines of a banking conference, referring to the details of the bill.
Indian laws currently allow 26 percent foreign holding in insurance companies, which the bill seeks to raise to 49 percent.
India has 22 life insurance companies, 21 non-life firms and one reinsurer, according to data from the website of the regulator, Insurance Regulatory and Development Authority.
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