Foreign investment in Other Financial Services

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... gement (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 , notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000 , as amended from time to time (Principal Regulations). 2. At present, paragraph F.8 of Annex B to Schedule 1 of the Principal Regulations permits foreign investment up to 100%, under the automatic route, in Non-Banking Finance Compa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... apitalisation norms, as specified by the concerned Regulator/ Government Agency. 4. Other salient features of the revised regulatory framework are as under: a) In financial services activities which are not regulated or partly regulated by any financial sector regulator or where there is lack of clarity regarding regulatory oversight, foreign investment will be allowed up to 100% under the G .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 9, 2016 vide G.S.R. No.879(E) dated September 9, 2016. 7. The directions contained in this circular have been issued under section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law. Yours faithfully, (Shekhar Bhatnagar) Chief General Manager-in-Charge - Circular .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X