In case of shortfall in NRI contributions, multilateral financial institutions would be allowed to contribute foreign equity to the extend of the shortfall in NRI contributions within the overall limit of 40 percent.

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..... dia Ministry of Industry Department of Industrial Policy Promotion Udyog Bhawan, Under the existing policy, foreign direct investment in Private Sector banks up to 20% by Foreign banking companies or finance companies, including multilateral financial institutions as technical collaborators or co-promoters is permissible. Under this policy, NRI are also allowed equity participatio .....

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