- Seeking to further relax foreign investment norms, the government is considering increasing the foreign direct investment (FDI) limit in private banks to 100%, from the existing 74%.
- The Department of Industrial Policy and Promotion (DIPP) has sent a proposal to hike the FDI limit in the private banking industry to the Department of Financial Services for its comments.
- Currently, 74% FDI is permitted in the private sector banking, of which up to 49% is allowed under the automatic route and beyond that through the approval of the Foreign Investment Promotion Board (FIPB).
Thursday, October 8, 2015
Govt mulls raising FDI limit in private banks to 100%
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