Main News Reserve Bank of India relaxed its Overseas Direct Investment rules
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| Reserve Bank of India relaxed its Overseas Direct Investment rules |
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 RBI relaxed its Overseas Direct Investment rules to provide greater flexibility to Indian companies for investment abroad. The central bank had allowed the Indian companies to invest in excess of 400 per cent of their net worth in the energy and natural resources sectors. A notification issued by it said, such investments shall be made only with the prior approval of the RBI.It had also extended the investment benefits provided to ONGC Videsh Limited and Oil India Limited and other Indian entities to invest in overseas unincorporated entities in oil sector.... RBI relaxed its Overseas Direct Investment rules to provide greater flexibility to Indian companies for investment abroad. The central bank had allowed the Indian companies to invest in excess of 400 per cent of their net worth in the energy and natural resources sectors. A notification issued by it said, such investments shall be made only with the prior approval of the RBI. It had also extended the investment benefits provided to ONGC Videsh Limited and Oil India Limited and other Indian entities to invest in overseas unincorporated entities in oil sector. provided to ONGC Videsh Limited and Oil India Limited and other Indian entities to invest in overseas unincorporated entities in oil sector. (AIR) |
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