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November 23rd, 1998 as finance minister Yashwant Sinha walked up to newspersons to announce the cabinet decision to allow entry of foreign equity in the Indian insurance sector he ended days of speculation. More importantly, it is being felt that Mr. Sinha conveyed to India in general and the world at large as a government of India's seriousness on the liberalization of the country's economy. However, what has surprised many is the decision of the government to open the country's life insurance to foreign players. Since the early nineties, there has been heated debate on keeping private players out of the insurance sector it is to aspirate some of these criticisms that the government proposes to table the Insurance Regulatory Authority bill the IRA bill in the coming winter session of the
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