Spread the loveIndian Finance Minister, Nirmala Sitharaman has increased the Foreign Direct Investment cap from 49% to 74%. The government has raised FDI limit in the insurance sector to 74 per cent to attract more significant overseas capital inflows and increase insurance penetration in the country. Under the new structure, she said, the majority of key management persons and directors on the board would be resident Indians. Also, at least 50 per cent of directors would be independent directors. She also said that a specified percentage of profits would be retained as a general reserve. FM Nirmala Sitharaman has proposed to … Continue reading Finance Minister Has Increased FDI Cap In The Insurance Sector To 74%