RBI permits 100% FDI in more financial services – Feedback

The Reserve Bank of India (RBI) on Thursday permitted 100 % foreign direct investment in ‘Other Financial Services’ carried out by NBFCs, a move which will help attract foreign capital into the country.

“On a review, in consultation with the Government of India, it has been decided to allow foreign investment up to 100 % under the automatic route in Other Financial Services, RBI said in a notification. “Other Financial Services will include activities which are regulated by any financial sector regulator viz. Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority, Pension Fund Regulatory and Development Authority, National Housing Bank or any other financial sector regulator as may be notified by the Government of India in this regard,” it said.

http://www.dnaindia.com/money/report-rbi-permits-100-fdi-in-more-financial-services-2266018

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