https://www.taxtmi.com/circulars?id=4275 FDI in Indian private sector banks is permitted up to 74% under the automatic route while at least 26% of paid up capital must be held by residents (except wholly-owned foreign bank subsidiaries). FIIs, NRIs and certain OCB holdings are included; transfers from residents to non-residents require approval under foreign exchange law. Portfolio investment limits for FIIs and NRIs remain subject to individual and aggregate ceilings with possible escalation by bank and shareholder resolution. Foreign banks may operate via only one channel-branch, wholly-owned subsidiary, or subsidiary within the prescribed foreign investment ceiling-and conversions or acquisitions are subject to licensing and resident shareholding conditions. en-us Fri, 05 Mar 2004 00:00:00 +0530 Tue, 30 Sep 2008 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4275 FDI in Indian private sector banks is permitted up to 74% under the automatic route while at least 26% of paid up capital must be held by residents (except wholly-owned foreign bank subsidiaries). FIIs, NRIs and certain OCB holdings are included; transfers from residents to non-residents require approval under foreign exchange law. Portfolio investment limits for FIIs and NRIs remain subject to individual and aggregate ceilings with possible escalation by bank and shareholder resolution. Foreign banks may operate via only one channel-branch, wholly-owned subsidiary, or subsidiary within the prescribed foreign investment ceiling-and conversions or acquisitions are subject to licensing and resident shareholding conditions. Circulars FEMA Fri, 05 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4275