Ministry of Commerce and Industry (DIPP),  on 23rd March, 2016 vide press note no. 1 (2016 series) has liberalized  in Foreign Direct Investment Policy (FDI) on Insurance sector. Accordingly, paragraph 6.2.18.7 of ‘ Consolidated FDI Policy Circular 2015’, effective from 12.05.2015.

The said press note appended at the following link: FDI Press Note 1_2016