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Budget Proposals Are Confusing: Insurance Industry [Posted by: InsuringIndia News on Friday, July 18, 2014 12:00 AM ]

The union budget presented recently by the Finance Minister Mr. Arun Jaitely has promised to table the long awaited Insurance Laws (Amendment) Bill, which proposes to raise foreign direct investment cap to 49 per cent from current 26 per cent, in the current session of the Parliament. It is encouraging for the industry but has also created a state of confusion within the industry on some points.

The budget proposals have imposed a withholding tax of 2 per cent on payment made by insurance

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Bajaj Finserv Plans To Sell Stakes In Insurance Biz [Posted by: InsuringIndia News on Thursday, July 17, 2014 12:00 AM ]

Bajaj Finserv Limited (BFL), a leading financial services company of the Bajaj Group, is considering selling part of its stakes in insurance joint ventures to its foreign partner Allianz once the Insurance Laws (Amendment) Bill is passed.

The Insurance Laws (Amendment) Bill, which proposes to raise foreign direct investment (FDI) in insurance to 49 per cent from current 26 per cent, is pending in Rajya Sabha, the upper house of the Indian parliament, since 2008.

Bajaj Finserv is

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