ANNOUNCEMENT 03 Oct 2012

The foreign ownership limit for NBFC's to open step-down subsidiaries has been liberalised.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 03 Oct 2012 | Removal date: open ended

FDI: Treatment and operations, nes

On 3 October 2012, the Department of Industrial Policy & Promotion through Press Note 9 (2012 Series) allowed Non-Banking Finance Companies having foreign investments of 75% to 100% and a capitalization of at least USD 50 million to open step-down subsidiaries without any restrictions. Earlier, only NBFCs with 100% foreign ownership were allowed to open such subsidiaries.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A