Awareness among IRDA's the role of Foreign Investors in Insurance Sectors
ABSTRACT:
Flows of capital from one nation to another in exchange for significant ownership stakes in domestic companies or other domestic assets. Typically, foreign investment denotes that foreigners take a somewhat active role in management as a part of their investment. Foreign investment typically works both ways, especially between countries of relatively equal economic stature.
Investment by citizens and government of one country in industries of another; also investment within a country by foreigners. The income tax treatment of foreign investment income is often governed by tax treaties between the country of the investment owner and the country where the investment is located. This study is mainly based on the awareness among the IRDA certified people about the foreign investment. This study involves both primary and the secondary data, where to collect the primary data questionnaire is used and to collect the secondary data i.e. review of literature books, website and journals are used.
INTRODUCTION:
In India, insurance has a deep-rooted history. It finds mention in the writings of Manu (Manusmrithi), Yagnavalkya (Dharmasastra) and Kautilya (Arthasastra). The writings talk in terms of pooling of resources that could be re-distributed in times of calamities such as fire, floods, epidemics and famine. This was probably a pre-cursor to modern day insurance. Ancient Indian history has preserved the earliest traces of insurance in the form of marine trade loans and carriers’ contracts. Insurance in India has evolved over time heavily drawing from other countries, England in particular. 1818 saw the advent of life insurance business in India with the establishment of the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency. 1870 saw the enactment of the British Insurance Act
Flows of capital from one nation to another in exchange for significant ownership stakes in domestic companies or other domestic assets. Typically, foreign investment denotes that foreigners take a somewhat active role in management as a part of their investment. Foreign investment typically works both ways, especially between countries of relatively equal economic stature.
Investment by citizens and government of one country in industries of another; also investment within a country by foreigners. The income tax treatment of foreign investment income is often governed by tax treaties between the country of the investment owner and the country where the investment is located. This study is mainly based on the awareness among the IRDA certified people about the foreign investment. This study involves both primary and the secondary data, where to collect the primary data questionnaire is used and to collect the secondary data i.e. review of literature books, website and journals are used.
INTRODUCTION:
In India, insurance has a deep-rooted history. It finds mention in the writings of Manu (Manusmrithi), Yagnavalkya (Dharmasastra) and Kautilya (Arthasastra). The writings talk in terms of pooling of resources that could be re-distributed in times of calamities such as fire, floods, epidemics and famine. This was probably a pre-cursor to modern day insurance. Ancient Indian history has preserved the earliest traces of insurance in the form of marine trade loans and carriers’ contracts. Insurance in India has evolved over time heavily drawing from other countries, England in particular. 1818 saw the advent of life insurance business in India with the establishment of the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency. 1870 saw the enactment of the British Insurance Act