Centre Need Not Be Majority Shareholder In National Insurance Cos : Parliament Passes Insurance Amendment Bill

The Parliament on Wednesday (August 11) passed the General Insurance Business (Nationalization) Amendment Bill 2021 which removes the condition that the Central Government should hold 51% shareholding in state-owned general insurance companies.The proviso to Section 10B of the General Insurance Business (Nationalization) Act 1972 requires that the shareholding of the central government in...