Foreign investment commitment limits set for joint ventures and wholly owned subsidiaries; domestic monetary threshold correspondingly revised. The Reserve Bank amends Regulation 6(2) to (i) cap total commitments in Joint Ventures and Wholly Owned Subsidiaries in Myanmar and specified SAARC countries (excluding Nepal, Bhutan and Pakistan) by imposing an annual ceiling, and (ii) raise the monetary threshold in clause (ii) previously stated as Rupees 350 crores to a higher national threshold; the amendments take effect on publication in the Official Gazette.
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Foreign investment commitment limits set for joint ventures and wholly owned subsidiaries; domestic monetary threshold correspondingly revised.
The Reserve Bank amends Regulation 6(2) to (i) cap total commitments in Joint Ventures and Wholly Owned Subsidiaries in Myanmar and specified SAARC countries (excluding Nepal, Bhutan and Pakistan) by imposing an annual ceiling, and (ii) raise the monetary threshold in clause (ii) previously stated as Rupees 350 crores to a higher national threshold; the amendments take effect on publication in the Official Gazette.
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