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Insurance Reforms Notified

Published on Mon, Jan 05,2015 | 18:01, Updated at Mon, Jan 05 at 18:01Source : 

The amendments to the Insurance Act, 1938 (Insurance Act), including the increase of foreign investment ceiling in insurance companies from 26% to 49%, have come into effect from 26 December 2014. Although, the Insurance Laws (Amendment) Bill, 2008 (Insurance Bill) couldn’t be taken up for discussions in the recently concluded winter session of the Parliament (which concluded on 23 December 2014), the Insurance Laws (Amendment) Ordinance, 2014 (Insurance Ordinance) was thereafter promulgated by the President of India and published in the Gazette of India on 26 December 2014. Attached is the Khaitan alert detailing the reforms.

Attachments : InsuranceReformsNotified-KCO-ERGONewsflash.pdf

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