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Business News- Times Now<http://forums.investorline.co.in/aggregator/sources/106>- *3 hours 9 min* ago p align=justifyThe government today (October 31) approved the much-awaited comprehensive insurance bill, which seeks to raise foreign direct investment cap in private sector to 49 per cent from 26 per cent, and said it would be tabled in the Parliament in December. brbrThe Union Cabinet gave its approval for introduction of the Insurance (Amendment) Bill, 2008 for amendment to Insurance Act 1938, General Insurance Business Act, 1972, and Insurance Regulatory and Development Act, 1999, in the Rajya Sabha on the basis of recommendations made by GoM, Finance Minister P Chidambaram told reporters here this morning. brbrHowever, the Bill is unlikely to be passed in this Parliament mainly due to lack of time, Chidambaram said while briefing on decision taken in the Cabinet last night. brbrThe amendments, he said, will remove archaic and redundant provisions in the legislations and would incorporate certain provisions to provide IRDA with flexibility to discharge its functions effectively and efficiently. brbrThe Cabinet also decided to introduce the Life Insurance Corporation (Amendment) Bill, 2008 in the Lok Sabha, he said. brbr(Agencies)/p Categories: Business<http://forums.investorline.co.in/aggregator/categories/4>, Capital Market <http://forums.investorline.co.in/aggregator/categories/5>, Corporate News <http://forums.investorline.co.in/aggregator/categories/11>, Economy<http://forums.investorline.co.in/aggregator/categories/12>, India <http://forums.investorline.co.in/aggregator/categories/43>, Industry<http://forums.investorline.co.in/aggregator/categories/20>, Inflation <http://forums.investorline.co.in/aggregator/categories/21>, International Business <http://forums.investorline.co.in/aggregator/categories/23>, International News <http://forums.investorline.co.in/aggregator/categories/24>, USA<http://forums.investorline.co.in/aggregator/categories/46> Create your free blog and express yourself - http://iwebslog.com News - http://central.iwebslog.com --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
