In Rajya Sabha today, the Select Committee on amending the Insurance Act to raise foreign investment cap to 49 per cent was given two more weeks till December 12 to submit its report.  The Select Committee headed by BJP’s Chandan Mitra was to submit the report by November 28.

There is sharp difference in the Select Committee as also among the political parties on the Amendment to the Insurance Act Bill, which is sent to the Select Committee. The procedural flaws in extending the time was also questioned by the opposition parties.