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Policyholders will be protected, says Sitharaman

The Rajya Sabha on Thursday passed the Insurance (Amendment) Bill, 2021 — which seeks to raise the foreign direct investment (FDI) cap in insurance sector to 74% from the current 49% — by voice vote, amid assurance by finance minister Nirmala Sitharaman that sufficient safeguards had been built in to protect the interests of policyholders.

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