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India to cut stake in general insurers to 75 pct - finance minister
January 18, 2017 / 9:21 AM / a year ago

India to cut stake in general insurers to 75 pct - finance minister

NEW DELHI, Jan 18 (Reuters) - India’s cabinet on Wednesday approved a plan to reduce its stake in five state-run general insurance companies to 75 percent from 100 percent, Finance Minister Arun Jaitley told reporters.

Jaitley had announced in last year’s budget the government would list the general insurance companies to improve transparency and accountability.

Reporting by Rajesh Kumar Singh; Writing by Tommy Wilkes; Editing by Sanjeev Miglani

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