Clarification provided by the Department of Finance Services over ‘FIIs holdings coming under FDI’ may boost FIIs in increasing their investments, but, there is also a danger that FIIs having controlling stakes in Indian insurance sector
By Sai Nikesh D
The holdings of Foreign Institutional Investors (FIIs) in Indian insurance promoters will not be part of the total Foreign Direct Investment (FDI), informed an official release on Wednesday.
Informing this, the Insurance Regulatory Authority of India (IRDAI) was said to have published on Wednesday, a clarification by the Department of Financial Services on the matter.
This article was published in The Dollar Business on July 9, 2015