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of <h1>RBI Empowers Banks to Approve Share Pledges by Non-Residents Under FDI Policy for Business Loans.</h1> The Reserve Bank of India has delegated powers to Authorised Dealer Category - I banks to approve the pledge of shares by non-resident investors under the Foreign Direct Investment (FDI) policy for business purposes. This applies to shares pledged to Indian banks for credit facilities to resident companies and to overseas banks for credit to non-resident investors or their overseas group companies. Conditions include compliance with FDI policies, utilization of loans for declared purposes, and adherence to relevant regulations. Amendments to existing notifications are forthcoming, and banks are advised to inform their clients of these changes.
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