The proposed amendments suggest that the minimum paid up capital be specified by the Insurance Regulatory and Development Authority of India (IRDAI) considering the size and scale of operations, class or sub-class of insurance business and the category or type of insurer. Currently, solvency ratio is pegged at 150 per cent while paid up capital is Rs 100 crore as per the existing law.source https://economictimes.indiatimes.com/industry/banking/finance/insure/lic-may-look-at-composite-licence-after-passage-of-insurance-laws-amendment-bill/articleshow/96494211.cms
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