This is an archive article published on August 2, 2021
Premium

Lok Sabha passes bill to amend public sector general insurance law

The Bill was introduced on Friday by Finance Minister Nirmala Sitharaman.

Nirmala Sitharaman in the Budget 2021-22 had announced a big-ticket privatisation agenda which included two public sector banks and one general insurance company. (Photo: Screengrab @ LSTV via PTI Photo)Nirmala Sitharaman in the Budget 2021-22 had announced a big-ticket privatisation agenda which included two public sector banks and one general insurance company. (Photo: Screengrab @ LSTV via PTI Photo)
Written by: Liz Mathew
3 min readNew DelhiAug 3, 2021 02:09 AM IST First published on: Aug 2, 2021 at 04:44 PM IST

The Monsoon session saw another acrimonious day in the Lok Sabha on Monday due to the stalemate between the Treasury and Opposition benches.

Amid Opposition protests over the Pegasus spyware controversy and farm laws, a Bill to amend the general insurance law — to allow the government to pare its stake in state-owned insurers — was passed without debate, while another to abolish as many as nine appellate tribunals set up under various Acts was introduced.

Advertisement

The General Insurance Business (Nationalisation) Amendment Bill, 2021 is aimed at generating required resources from the Indian markets so that public sector general insurers can design innovative products.

Have been in journalism covering national politics for 23 years. Have covered six consecutive Lok Sa... Read More

Latest Comment
Post Comment
Read Comments