Top financial sector players have hailed the Parliament approving the hike in the Foreign Direct Investment limit in Insurance Sector to 49 percent from 26 percent. They say, the move is a highly positive development that can bring in immediate inflows to the tune of 20 thousand crore rupees. In fact most of top Insurance players have been waiting for the passage of the bill for fresh initiative to hike the FDI limits. Moreover, FDI hike in Insurance will increase FDI limits for pension sector. FICCI Director General Arbind Prasad said, the growth of insurance sector will help to bring much needed funds for meeting India's growth aspirations. CII Director General Chandrajit Banerjee said, the long awaited reform will help to create a conducive environment for reviving investments and sustaining growth in the Indian insurance industry. Assocham President Rana Kapoor said the support of opposition parties for the Insurance Bill augurs well for reforms. He hoped that the same spirit and cooperation is extended for Coal and Land Acquisition Bill.