ADVERTISEMENT
Finmin clears 49% FDI in insurance, pension
Shares of Industrial Finance Corporation of India (IFCI) plunged on Friday after the government exercised the option to convert Rs 923 crore worth of debentures into equity with immediate effect. Atul Kumar Rai, MD and CEO, IFCI, told NDTV Profit that the
23 Aug 2012, 11:02 AM IST 
Save
The finance ministry on Wednesday approved 49 per cent foreign direct investment (FDI) in the insurance and pension sector.The current ceiling for FDI in this sector is 26 per cent.The proposal was floated when Pranab Mukherjee was the finance minister, and was sent to the cabinet for approval in May, but the decision was deferred.The Bill needs cabinet approval before it comes up in Parliament, where it will have to be approved.Dome...
