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of <h1>RBI Amendment Allows 100% Foreign Investment in Other Financial Services, Requires Approval for Unregulated Sectors, Alters Schedule 1.</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Thirteenth Amendment) Regulations, 2016, effective from its publication date. This amendment modifies Schedule 1 of the 2000 regulations, specifically Annex B, Paragraph F.8, concerning foreign investment in 'Other Financial Services.' It allows up to 100% foreign investment in these services, subject to regulatory conditions, including minimum capitalization norms. Unregulated or partially regulated services require government approval for foreign investment. Activities regulated by specific Acts will adhere to the investment limits specified therein. Downstream investments must comply with existing sectoral regulations.
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