IndiaInsurance
17th February 2010, 04:21 AM
The Reserve Bank of India should further liberalise banking and insurance sector but continue its cautious approach, especially towards certain sectors such as commercial real estate, UK s Financial Services Authority chairman Adair Turner said on Tuesday. India does need a process of financial deepening. If you look at the credit-to-GDP, deposit-to-GDP, the financial sector is underdeveloped, Turner said. The pending financial sector reforms include raising the foreign direct investment (FDI) cap in private sector insurance companies from 26% to 49% a Bill for which is pending in Parliament. Appreciating the RBI s conservative approach, Turner said it would be better to ...
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