New Delhi, Dec. 18 -- The Rajya Sabha on Wednesday passed a bill to allow 100% foreign direct investment (FDI) in insurance in a move aimed at boosting capital inflows and expanding one of the world's fastest-growing insurance markets. The upper house of Parliament, through a voice vote, passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, to raise FDI in the insurance sector from 74% to 100% amid strong demands by the Opposition that the proposed legislation be sent to a select committee for parliamentary scrutiny. The bill was passed by the Lower House a day ago and is now set to become law. Replying to the debate, finance minister Nirmala Sitharaman said removing the upper cap in FDI will help the sector grow and b...