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Foreign investment in Other Financial Services

FEMA - 8 - Dated:- 20-10-2016 - RBI/2016-17/90 A.P. (DIR Series) Circular No. 8 October 20, 2016 To All Category - I Authorised Dealer Banks Madam/Sir, Attention of Authorised Dealers Category - I (AD Category - I) banks is invited to the Foreign Exc .....

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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 Companies (NBFCs) engaged in the 18 activities listed therein. Such investment is subject to the conditio .....

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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 .....

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ulator/ 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 .....

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, if any, specified in that Act. c) Downstream investment by any entity engaged in Other Financial Services will be subject to extant sectoral regulations and provisions of Principal Regulations. 5. AD Category - I banks may bring the contents of thi .....

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