Budget 2021 | Deposit insurance increase great boon, says Bajaj Capital MD

IPO of Life Insurance Corporation of India should finally happen in 2021, he writes

Sanjiv Bajaj. Credit: Bajaj Capital

By Mr Sanjiv Bajaj,

Deposit insurance increase from Rs 1 lakh to Rs 5 lakh, is a great boon for bank account holders. Making the system more efficient is a great step by the Finance Minister.

The insurance Industry's longstanding demand for increasing foreign holding from 49% to 74% has now been met.

Also read: Union Budget 2020: Deposit insurance boosted from Rs 1 lakh to Rs 5 lakh

The whole industry is now set to change and should help in job creation in this sector. Huge investments in infrastructure projects announced in Budget 2021 will help create jobs as well as push up commodities players.

Follow DH's Union Budget 2020 coverage here

IPO of Life Insurance Corporation of India should finally happen in 2021, this would give Indian another great company to invest in.

(The author is the Joint Chairman & MD at Bajaj Capital)