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of <h1>India Allows 100% FDI in Construction Development via Automatic Route, Effective December 2014, with Conditions.</h1> The circular addresses the review of the Foreign Direct Investment (FDI) policy in India's construction development sector. It informs Category-I Authorized Dealer banks that 100% FDI is now permitted under the automatic route, effective December 3, 2014, subject to specific conditions outlined in Press Note 10 (2014 Series) by the Department of Industrial Policy and Promotion. The Reserve Bank of India has amended the relevant regulations to reflect these changes. The circular instructs banks to inform their clients and stakeholders about these updates, issued under the Foreign Exchange Management Act, 1999.
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