Govt Revives Insurance Merger Plan; 100% FDI Proposal Back in Focus
The plan to merge public sector insurance companies in India has been revived. Along with this, there are plans to increase Foreign Direct Investment in the insurance sector to 100%.
3 Insurance Companies Merger
The move to merge public sector insurance companies in India is back on. The Finance Ministry revived this long-pending plan to create a large, world-class insurance giant.
Big Change in the Insurance Sector
The government believes merging the three firms will cut costs and boost efficiency. The idea was first proposed in 2018-19 but was paused due to the companies' heavy losses.
Union Finance Ministry
With the firms now turning profitable, the merger is back in focus. The government also plans to raise the FDI limit in insurance from 74% to 100% in the winter session.
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