Government allows 100% FDI in ‘other financial services’ by NBFCs – Feedback

The government has allowed 100% foreign direct investment (FDI) in ‘other financial services’ carried out by non-banking finance companies (NBFCs), continuing with the liberalisation of the overseas investments regime.

“The government has liberalised its FDI policy in other financial services and non-banking finance companies (NBFCs),” the Department Of Industrial Policy & Promotion (DIPP) said in a press note on Tuesday. Other financial services will include activities which are regulated by any financial sector regulator — RBI, SEBI, IRDA, Pension Fund Regulatory and Development Authority, National Housing Bank “or any other financial sector regulator as may be notified by the government in this regard”, it said.

http://economictimes.indiatimes.com/industry/banking/finance/government-allows-100-fdi-in-other-financial-services-by-nbfcs/articleshow/55058662.cms

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