As per the bill, the majority of directors on the board and key management persons would be resident Indians, with at least 50 per cent of directors being independent directors, and specified percentage of profits being retained as a general reserve.source https://economictimes.indiatimes.com/industry/banking/finance/insure/rajya-sabha-passes-bill-to-hike-fdi-in-insurance-sector-to-74-pc/articleshow/81572980.cms
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