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Oct 21, 2016
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RBI decides to allow FDI up to 100% in other financial services
The Reserve Bank of India (RBI) on Thursday decided to allow foreign investment up to 100 per cent under the automatic route in ‘other financial services’.RBI, however, said foreign investment in an activity that is regulated by an Act will be restricted to foreign direct investment (FDI) limits. Hence, sectors such as insurance, which already have pre-defined FDI limit (49 per cent in insurance) will continue to follow that.
Source -
http://www.business-standard.com
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