Insurance Bill tabled in Lok Sabha


New Delhi, March 03: The controversial Insurance Laws (Amendment) bill, 2015, was tabled on Tuesday in Lok Sabha despite opposition from the Left and TMC members. The bill will provide to raise the FDI cap in insurance sector from 26 per cent to 49 per cent if gets cleared by Parliament and President.

The bill seeks to amend the Insurance Act, 1938, the General Insurance Business (Nationalisation) Act 1972 and the Insurance Regulatory and Development Authority Act, 1999.

This was presented by Minister of state for Finance Jayant Sinha after the Division of votes in the House. While 131 members voted in favour of the bill, 45 were against it.

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