Lok Sabha passes Bill to amend public sector general insurance law
The Hindu
The General Insurance Business (Nationalisation) Amendment Bill, 2021 is aimed at generating required resources from the Indian markets so that public sector general insurers can design innovative products.
Lok Sabha on Monday passed a bill to amend the general insurance law to allow the government to pare its stake in State-owned insurers. The General Insurance Business (Nationalisation) Amendment Bill, 2021 is aimed at generating required resources from the Indian markets so that public sector general insurers can design innovative products. As per the statement of objects and reasons of The General Insurance Business (Nationalisation) Amendment Bill, 2021, it seeks to remove the requirement that the Central government should hold not less than 51% of the equity capital in a specified insurer.
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