General insurance business, Insurance company

The Lok Sabha on Monday passed a bill to provide greater private participation in the public sector insurance companies and to enhance insurance penetration and social protection.The General Insurance Business (Nationalisation) Amendment Bill, 2021 was passed amid opposition protests over various issues including demand for a probe into allegations of surveillance through Pegasus spyware.Congress leader Adhir Ranjan Chowdhury, who briefly spoke on the bill amid protests, termed it "anti-people and anti-national legislation."Finance Minister Nirmala Sitharaman strongly refuted the charges and said the government was not snatching any rights."If they are serious, they should sit down, debate and ask questions. Since you are afraid that truth will come out, you don't want discussion," she said.The bill seeks to amend General Insurance Business (Nationalisation) Act, 1972 to "provide for greater private participation in the public sector insurance companies".It seeks to enhance insurance penetration and social protection and better secure the interests of policyholders and contribute to faster growth of the economy.The bill seeks to remove proviso of the Act to remove the requirement that the Central Government holds not less than 51 per cent of the equity capital in a specified insurer.Earlier, the Tribunals Reforms Bill, 2021 was introduced in the House. It seeks to dissolve certain existing appellate bodies and transfers their functions to other existing judicial bodies.The Rajya Sabha, which also witnessed protests by the opposition, passed the Inland Vessels Bill, 2021. It was earlier passed by Lok Sabha.The Bill seeks to incorporate unified law for the country, instead of separate rules framed by the states. The registration certificate under the new law will be considered valid all over the country, and separate permissions from states shall not be required.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

General Insurance BusinessFOLLOW

General insurance business, Latest News

National :LoP Kharge writes to RS Chairman, urges to reconsider suspension of 12 MPs

Leader of Opposition in Rajya Sabha, Mallikarjun Kharge Tuesday wrote to Chairman of the House M Venkaiah Naidu requesting him to reconsider the matter of suspension of 12 MPs "in the larger interest of Parliamentary democracy" and revoke the suspens ...

National :Parliament passes bill to provide greater private participation in public sector insurance companies

Parliament on Wednesday passed a bill to provide greater private participation in the public sector insurance companies. ...

National :Lok Sabha passes bill to provide greater private participation in public sector insurance companies

The Lok Sabha on Monday passed a bill to provide greater private participation in the public sector insurance companies and to enhance insurance penetration and social protection. ...

International :Unions in PSU general insurance sector to strike work on Wednesday

Chennai, Aug 3 The Joint Forum of Trade Unions in the four public sector general insurance companies have ... ...

National :Lok Sabha passes bill to provide greater private participation in public sector insurance companies

The Lok Sabha on Monday passed a bill to provide greater private participation in the public sector insurance companies and to enhance insurance penetration and social protection. ...