Cabinet To Approve Pension, Insurance Bills - Minister

The cabinet will approve amended bills on 4 October' 2012 that seek to permit 26 per cent foreign direct investment (FDI) in the pension sector and 49 per cent in the insurance sector, a minister told reporters on 3 October' 2012.

 

The bills will need parliamentary approval before becoming law. Currently, India does not allow FDI in the pension sector, while foreign investment in insurance is capped at 26 per cent.

(Reuters)