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Full functional autonomy for PSU general insurers not privatisation: Unions
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Bill to amend general insurance law introduced in Lok Sabha
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Last Updated: Jul 30, 2021, 02:40 PM IST
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Synopsis
Introducing the General Insurance Business (Nationalisation) Amendment Bill, 2021, Sitharaman said its passage will help generate required resources from the Indian markets so that public sector general insurers can design innovative products.
ANI
Sitharaman in the Budget 2021-22 had announced a big-ticket privatisation agenda, including privatisation of two public sector banks and one general insurance company.
A bill to amend the general insurance law to allow the government to pare its stake in state-owned insurers was introduced in the Lok Sabha on Friday, but Finance Minister Nirmala Sitharaman insisted that it will not lead to privatisation.
FM Sitharaman introduces bill in Lok Sabha to privatise general insurance firm
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