March 13, 2026 01:07 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
America’s flip-flop on Russian oil: How Washington sends conflicting signals to India | Big diplomatic win! Iran allows Indian oil tankers through the Strait of Hormuz | ‘It was over in the first hour’: Trump declares victory in Iran war, says ‘nothing left to target’ | Indian-origin shopkeepers face targeted attacks in Wembley; Somali men suspected | Iran pulls out of 2026 FIFA World Cup amid war with US-Israel | Supreme Court allows first-ever passive euthanasia for 32-year-old man in coma for 13 years | As Iran-US war disrupts global gas supply, India issues guidelines to manage shortages | LPG crisis hits metros: Commercial cylinder shortage triggers panic as govt prioritises domestic supply | Iran war disrupts LPG supplies, restaurants in major Indian cities edge towards shutdown | ‘How dare you question judicial officers?’: SC raps Bengal SIR pleas, orders appellate tribunals for voter list appeals

Lok Sabha passes Insurance Bill raising FDI cap to 49 pct

| | Mar 05, 2015, at 03:55 am
#Lok Sabha passes Insurance Bill raising FDI cap to 49 pct
New Delhi, Mar 4 (IBNS): The Lok Sabha on Wednesday passed the Insurance Bill, a reform legislation providing for raising foreign investment cap to 49 percent with the support of Congress and NCP.
The Bill will now be placed in the Rajya Sabha. However, much uproar is expected in the Upper House over the passage of the Bill since the government is in minority there.
 
The Government earlie rmoved motions for withdrawal of three Bills pending in the Rajya Sabha pertaining to allocation of coal mines through open bidding, introduction of e-rikshaws and hiking FDI in Insurance sector and the same have been put on hold further to some issues raised by the opposition members. 
 
The Government is of the view that new laws by virtue of promulgation of three related Ordinances are in force rendering the pending Billsinfructuous and it is with in its right to introduce new Bills in the Lok Sabha. 
 
The Union Cabinet had earlier approved the promulgation of the Insurance Laws (Amendment) Ordinance 2014 to amend the Insurance Act, 1938, the General Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999, in accordance with the Insurance Laws (Amendment) Bill 2008 as reported by the Select Committee of the Rajya Sabha, and for suitably introducing it in the Parliament in the next session for consideration and passing. 
 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
In Images: CEC Gyanesh Kumar offers prayers at Dakshineswar Temple in Kolkata
In Images: CEC Gyanesh Kumar offers prayers at Dakshineswar Temple in Kolkata Mar 10, 2026, at 01:22 pm
In Images: Prez Murmu attends the 9th International Santal Conference at Darjeeling
In Images: Prez Murmu attends the 9th International Santal Conference at Darjeeling Mar 08, 2026, at 02:47 am
In Images: Mamata Banerjee holds dharna in Kolkata over SIR issue
In Images: Mamata Banerjee holds dharna in Kolkata over SIR issue Mar 06, 2026, at 06:25 pm
Related Videos
Delhi civic body demolishes house linked to Holi murder case Mar 10, 2026, at 05:01 pm
Mamata Banerjee holds dharna over SIR in Kolkata Mar 06, 2026, at 03:41 pm
Fire at Dudhia in Kurseong Feb 26, 2026, at 03:54 pm