The Lok Sabha on August 2, 2021 passed the General Insurance Business (Nationalisation) Amendment Bill, 2021 amid din.
- The bill seeks to amend the General Insurance Business (Nationalisation) Act, 1972.
- It provides a greater private sector participation in the public sector insurance companies.
- The bill removes the mandatory provision of 51 per cent shareholding of the Central Government in General Insurance Corporation of India, National Insurance, New India Assurance, Oriental Insurance and United India Insurance companies.
