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RBI Demand for Increase FDI Limit in Insurance Sector

RBI Demand for Increase FDI Limit in Insurance Sector:
New Delhi - Reserve Bank of India advocated that there should be increase the FDI limit in insurance sector. The central bank said India's economic relations with the international economy are increasing. Thus, the local economic and political circumstances allow, in some areas, including the insurance FDI limit to be considered. This limit is currently 26 per cent.

RBI in India earlier this month says on foreign direct investment [FDI] flows report FDI is not allowed in agriculture and in also other field. In field like insurance and media in some areas relatively little investment has been allowed. RBI in its report found that China, Brazil and Russia and some other areas of insurance this limit is extended.

The central bank says that, there is no uniform standard, which applied equally to every country. Manish Shah of Deloitte consulting company said that there is a need of capital to expand this business. More capital will give benefit to the entire industry. There will be Increase insurance availability and accessibility in the country.

Rajesh Reln is MD of MetLife, says that in the life insurance industry through FDI there will be help in growth of business by more capital investment. In addition to developing other areas of insurance, increase in government capital to long-term project.

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