2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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49 %
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53 %
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36 %
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58 %
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Detailed explanation-1: -(f) (g) The foreign investment up to seventy-four percent of the total paid-up equity of the Indian Insurance Company shall be allowed on the automatic route subject to approval/verification by the Insurance Regulatory and Development Authority of India.
Detailed explanation-2: -Insurance company would be allowed aggregate holdings by way of total foreign investment in its equity shares by foreign investors, including portfolio investors, not exceeding 74 per cent of the paid-up equity capital, the DPIIT Press Note 1 of 2022 said.
Detailed explanation-3: -The regulator may allow 100% FDI in new lines of insurance business to expand the scope of the sector. At present, the upper limit for FDI is 74% into companies that write insurance cover.
Detailed explanation-4: -FDI up to 49% is now permitted under automatic route in this sector and FDI beyond 49% and up to 74% would be permitted with government approval route.