Insurance (Amendment) Act, 2021 raises limit of foreign investment in Indian insurance companies from the existing 49 per cent to 74 per cent. No Government provided that these provisions will be effective from 1st day of April, 2021 .
MINISTRY OF FINANCE
(Department of Financial Services)
New Delhi, the 31st March, 2021
S.O. 1426(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Insurance (Amendment) Act, 2021 (6 of 2021), the Central Government hereby appoints the 1st day of April, 2021 as the date on which the said Act shall come into force.
[F. No. 13011/19/2013-Ins.II]
SAURABH MISHRA, Jt. Secy.