Home   >>    Insurance   >>    Life Insurance   >>     Overview

Govt trying to ease investment norms

The government of India is trying hard to win agreement from their coalition allies in order to ease foreign investment, banking and pension.

Apnainsurance.com Research Bureau

28 May 2008

The government of India is trying to win support from their coalition allies ease foreign investments, banking and pension.

The four communist parties which support the Prime Minister Manmohan Singh's United Progressive Alliance (UPA) causes hurdle to increase foreign ownership of insurers, now restricted to 26 per cent and also to remove the 10 per cent cap on the voting rights of investors in local private banks such as HDFC Bank Ltd India's pension business is not open to foreign investors.