The union govt has approved amendments to the General Insurance Business (Nationalisation) Act
This would allow the privatisation of govt-owned insurers
It will remove the clause for the Centre to hold at least 51% in public sector insurance companies at any given time
The finance ministry will move the amendments in the ongoing Parliament session
FM Nirmala Sitharaman had announced about the privatisation in Union Budget 2021-22
It is learnt that The NITI Aayog recommended United India Insurance Company as one of the potential candidates
