https://www.taxtmi.com/circulars?id=4368 Corrigendum substitutes the Annex entry for Sl. No. 25 to confirm NBFC activities eligible for foreign investment under the automatic route and restates the conditional framework: application of minimum capitalization norms for fund based and non fund based NBFCs with prescribed upfront and staged capital infusion, permission for wholly foreign owned operating subsidiaries subject to a specified capital infusion and subsidiary compliance, allowance for joint venture NBFCs within specified foreign holding thresholds to set up subsidiaries meeting capital inflow requirements, mandatory compliance with central bank guidelines, and ordinary shares as qualifying capital. en-us Wed, 02 Jul 2008 00:00:00 +0530 Tue, 22 Sep 2009 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4368 Corrigendum substitutes the Annex entry for Sl. No. 25 to confirm NBFC activities eligible for foreign investment under the automatic route and restates the conditional framework: application of minimum capitalization norms for fund based and non fund based NBFCs with prescribed upfront and staged capital infusion, permission for wholly foreign owned operating subsidiaries subject to a specified capital infusion and subsidiary compliance, allowance for joint venture NBFCs within specified foreign holding thresholds to set up subsidiaries meeting capital inflow requirements, mandatory compliance with central bank guidelines, and ordinary shares as qualifying capital. Circulars FEMA Wed, 02 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4368