Holding company undertake such specific activities with domestic participation through downstream subsidiaries - permission

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....r foreign equity investment in Non-Banking Financial Companies (NBFC) issued vide Press Note No. 4 (1997 series) as amended from time to time, 100% foreign owned NBFCs would act as a holding company and specific activities would be undertaken by step-down subsidiaries with minimum 25% domestic equity. There have been cases where foreign owned holding companies, who had earlier been permitted to u....