Updated: 16 Dec 2025, 16:52 IST
Finance Minister Nirmala Sitharaman introduced a bill seeking to increase FDI in the insurance industry to 100 per cent in the Lok Sabha amid strong opposition. The Sabka Bima Sabki Raksha (Insurance Laws Amendment) Act, 2025 seeks to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the Insurance Regulatory and Development Authority Act, 1999, according to a draft bill circulated to Members of Parliament. Introducing the bill, Union Finance Minister Nirmala Sitharaman said that insurance for the common man has always been the focus of Prime Minister Narendra Modi and the central government has been providing insurance to the fringes of the society even during the Covid pandemic. However, the opposition is not convinced. Watch.
