Cabinet to take final call on listing of PSU insurers -Governance Now

Cabinet to take final call on listing of PSU insurers

The finance ministry had circulated a draft cabinet note for inter-ministerial consultations on the listing

GN Bureau | November 8, 2016

#New India Assurance #National Insurance Company #Oriental Insurance Co #United India Insurance Co

The cabinet is likely to take a final call on the listing of public sector general insurance companies this month. Last week, the finance ministry had circulated a draft cabinet note for inter-ministerial consultations on the listing of four general insurance public sector companies, according to news report.

These companies are New India Assurance Company, National Insurance Company, Oriental Insurance Co and United India Insurance Co.

In the union budget 2016-17, finance minister Arun Jaitley had announced the listing of such companies. He had said, “...(proposed to) undertake important banking sector reform and public listing of public sector general insurance and undertake significant changes in FDI policy."

Also, last year the government allowed foreign insurance players to raise their stake in their joint venture to 49%. Earlier, only up to 26% FDI was permitted. There are 52 insurance companies operating in India, of which 24 are in life business and 28 general insurance.

Comments

Other News

From one cow to a dairy business

In 2012, Anita Dash wasn`t dreaming of building a dairy brand. She wasn`t studying business models or planning market expansion. Like countless mothers across India, her focus was on something much simpler: giving her children a better future. At the time, her most valuable

Ethanol blending: The two sides of a story

India`s crude oil consumption is estimated to be around 88.5% imported from abroad. This one single figure is also responsible for why ethanol has become both an economic strategy and fuel policy at the same time. In an economy like India, which depends so heavily on foreign oil, any increase in internat

Food inflation: Not a macroeconomic statistic but a developmental indicator

India`s retail inflation shows a reassuring picture at first glance. According to the latest data, Consumer Price Index (CPI) inflation edged up to 4.38% in June 2026 from 3.93% in May 2026, but continued to remain within the Reserve Bank of India`s (RBI) target band of 4% (+/- 2%). However, beneath this

Skin in the game or masterful market timing?

When a company founder opens their personal chequebook to buy shares in their own business, stock markets usually applaud. To the average retail investor, it feels like the ultimate vote of confidence, a sign that the people running the show have real skin in the game and believe brighter days are ahead.

India’s freedom struggle was shaped by wider Asian political thought

As we mark 80th anniversary of independence, ‘Asianism and the Fall of Empire’ (HarperCollins India) by historian Mithi Mukherjee offers a new perspective on Ind