India’s big-bang financial reforms target wave of foreign money
In the latest step, lawmakers passed a bill this week allowing up to 100% foreign ownership of insurance firms, bolstering an industry long viewed as under-penetrated and capital-starved. Regulators have also overhauled rules for banks, pension funds and capital markets as they aim to shift savings from idle assets such as gold and property toward equities, bonds and long-term investments to finance factories and infrastructure.All these reforms come as The drive to attract foreign capital has gained urgen ...