Section 2(g) in The Insurance Regulatory And Development Authority (Registration Of Indian Insurance Companies) Regulations, 2000
(g)"Indian promoter" means and includes-(i)a company formed under the Companies Act, 1956 (1 of 1956), which is not a subsidiary as defined in section 4 of that Act;(ii)a banking company as defined in sub-section (4-A) of section 2 of the Act but does not include a foreign bank or branch thereof functioning in India;(iii)a public financial institution as defined in section 4-A of the Companies Act, 1956 (1 of 1956);(iv)a co-operative society registered under any relevant law for the time being in force;(v)a person, who is an Indian citizen or a combination of persons who are Indian citizens;
