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Permission to take or hold a general insurance policy issued by an insurer outside India

Regulation 3 - FEMA - Regulation 3 - 3. :- (i) A person resident in India may take or continue to hold a health insurance policy issued by an insurer outside India provided aggregate remittance including amount of premium does not exceed limit prescribed under the Liberalised Remittance Scheme. (ii) No person shall take out or renew any policy of insurance in respect of any property in India or any ship or other vessel or aircraft registered in India with an insurer whose principal place of busi .....

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