The long pending Insurance Bill, which seeks to raise FDI cap in the sector to 49 per cent, is expected to be taken up in the forthcoming Winter Session of Parliament.
"The Select Committee is looking into the Bill. We will take it up in the Winter Session," a top finance ministry official said.
The reform, according to experts, is expected to increase the flow of foreign investment to the tune of Rs 25,000 crore into the private insurance companies. The move would help insurance firms to get much needed capital from overseas partners.