The finance ministry on Thursday proposed 100% foreign direct investment (FDI) in insurance by removing the current limit of 74%, as well as a reduction the minimum paid-up capital that companies in the sector must have and allowing insurers to carry out one or more classes of businesses and activities related to insurance. The ministry sought comments from stakeholders on the key amendments proposed to insurance laws. This is the second time in about two years that it is putting up its proposals for public comments. The earlier draft published in December 2022 had not explicitly mentioned any proposal to increase the FDI to 100%. "It is proposed to amend certain provisions of insurance laws to ensure accessibility and affordability of insurance to citizens, foster expansion and development of the insurance industry, and streamline business processes," the finance ministry said in an office memorandum, while seeking comments till December 10.