US EditionPublished • loading... • Updated
Parliament Passes Sabka Bima Sabki Raksha Bill to Allow 100% FDI in Insurance Sector
The amendment aims to boost foreign investment and competition in insurance, retaining premiums locally and repealing 71 outdated laws to improve business ease, officials said.
- Wednesday, Rajya Sabha passed the Sabka Bima Sabki Raksha Bill after Lok Sabha approved it Tuesday during the Indian Parliament Winter Session, allowing 100% FDI in insurance.
- The government said consultations spanned nearly two years, and Union Finance Minister Nirmala Sitharaman argued the move would attract foreign insurers lacking joint‑venture partners and keep premiums collected from Indians in the country.
- Officials said more competition will boost insurance penetration and create jobs while premiums should drop for policyholders, Sitharaman said.
- Opposition MPs demanded the Bill be sent to a select committee and warned that a $600 billion market share would go to foreign investors, raising data privacy risks and harm to public sector insurers.
- Parliament also cleared the Repealing and Amending Bill, which repeals 71 obsolete laws including the Indian Tramways Act, 1886, while MPs objected to the insurance Bill's bilingual title.
Insights by Ground AI
20 Articles
20 Articles
Parliament Passes Bill Allowing 100% FDI In Insurance Sector
Parliament on Wednesday passed the 'Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025', with Finance Minister Nirmala Sitharaman assuring that opening up sector will attract new insurers, intermediaries and allied service providers.
·New Delhi, India
Read Full Article
House clears bill on 100% FDI in insurance
Finance minister Nirmala Sitharaman in reply to the debate in Rajya Sabha said opening up the sector would attract new insurers, intermediaries, and allied service providers, expanding the overall insurance ecosystem and creating net employment.
·India
Read Full Article
Coverage Details
Total News Sources20
Leaning Left4Leaning Right4Center2Last UpdatedBias Distribution40% Left, 40% Right
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
40% Right
L 40%
C 20%
R 40%
Factuality
To view factuality data please Upgrade to Premium
