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Cabinet To Approve Pension, Insurance Bills - Minister

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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.