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New norms for management control for insurance in FDI

The government will release fresh rules on the voting rights and management control to clear any confusion in the insurance sector

July 21, 2014 11:00 IST | India Infoline News Service
The government will issue new guidelines for management control and voting rights that have raised concerns among shareholders of insurance companies, according to a media report.
The government will release fresh rules on the voting rights and management control to clear any confusion in the insurance sector, the report added.
"The composite cap in the insurance sector is proposed to be increased up to 49 percent from the current level of 26 percent with full Indian management and control through the FIPB route," union Finance Minister Arun Jaitley had said while presenting his maiden budget.

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