a more gradual manner.”
One of the options with the finance ministry is to raise the FDI cap in various insurance segments in a phased manner.
“We will see whether we need to take up this whole hog in all categories of insurance or we can start in some particular categories first. We have to examine that. Then we have to talk to major players and see what could be other options apart from this,” Sandhu said.
With limited resources, the finance ministry is also keen for banks to consider raising about Rs 8,000 crore of capital on their own and is discussing these options with the Reserve Bank of India. The issue was also discussed at a meeting with state-owned lenders earlier this month.