<h1>New FDI Rules: US$ 20M Minimum for Fund-Based, US$ 2M for Non-Fund-Based Financial Services Activities.</h1> The government has set minimum Foreign Direct Investment (FDI) capital requirements for unregulated financial services activities. For fund-based activities, a minimum of US$ 20 million is required, while non-fund-based activities require US$ 2 million. These activities are unregulated by any financial sector regulator, which includes entities not registered or exempted under sector regulations, partially regulated activities, or those with unclear regulatory oversight. Fund-based activities include merchant banking, asset management, and microcredit, among others. Non-fund-based activities encompass investment advisory services, financial consultancy, and forex broking.