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FE Home- Economy - Story

RBI seeks views on master circular on FDI

Posted: Tuesday, Jun 17, 2008 at 2306 hrs IST
Updated: Tuesday, Jun 17, 2008 at 2306 hrs IST

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Mumbai, Jun 16: Banking regulator Reserve Bank has invited public comments on draft master circular on foreign investment.

The draft circular, on which the RBI has invited public comments by June 20, covers areas such as acquisition of immovable property, establishment of branch/liaison offices and foreign investment in partnership firms and property concerns.

Master circulars, issued by RBI from time to time on various subjects, presents the guidelines in a consolidated form for the guidance of investors, banks and other entities.

The apex bank has earlier proposed to strengthen the guidelines for establishment of branch and liaison offices by foreign companies in the country by imposing additional conditions such as track record of profit, minimum net worth etc.

—PTI

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