business

49% FDI in insurance not valid in 2011: Yashwant Sinha

Defending the Standing Committee’s stance to oppose government's proposal to hike the FDI limit for insurance companies to 49%, chairman Yashwant Sinha said that the insurance companies were first casualties in the sub-prime crisis in the US and handing over control to foreign companies will not be advisable.

first published: Dec 13, 2011 07:14 pm