Rajya Sabha on Wednesday, December 17, passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 to raise the Foreign Direct Investment (FDI) in the insurance sector by 100 per cent. Earlier, the FDI cap was set at 74 per cent. The Bill was passed with a voice vote, a day after it was passed by the Lok Sabha.
The 100 per cent raise in the FDI in the insurance sector is expected to increase insurance penetration, lower premiums, and boost job creation. The Bill also paves way for more foreign companies to enter India, Finance Minister Nirmala Sitharaman said.
This is a breaking news report, more details are being added
