RBI opens gates for more overseas investments
The Dollar Business Bureau The Reserve Bank of India has further opened the gates for more overseas investments into India through a series of steps. These steps have been detailed in its circular no.6 dated 20 October, 2016. This comes in the wake of possible outflows of FCNR-B deposit maturities of $26 billion. The notification issued yesterday directs in its points the following changes: In all sectors where there is a limit/cap on foreign investment, such limit/cap shall be reckoned in a composite manner. In other words, “sectoral cap”, i.e., the maximum amount which can be invested by foreign investors in an entity will include all types of foreign investments, direct and indirect, regardless of whether the said investments have been made ...
'FDI cap in defence, banking to keep fly-by-night operators away'
The Dollar Business Bureau The Minister of State for Commerce & Industry (Independent Charge), Nirmala Sitharaman addressing at the felicitation of the 1.25 Million International Registration Number (IRN) Certificate for Trade Mark and Madrid Seminar, in New Delhi on July 20, 2015. Source: PIB, Government of India Putting a cap on overseas investment in defence and banking sectors will keep fly-by-night operators away from investing in these areas, said the government on Monday. Union Minister of State for Commerce and Industry Nirmala Sitharaman on Monday clarified the new foreign direct investment (FDI) norms, saying that defence and banking sectors have been kept away from the list of composite cap, because the government does not want investors looking for quick money ...
