Guidelines for foreign equity investment in Non Banking Financial Services sector amended

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Full Text of the Document

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....anking Financial Sector. It was further clarified vide Press Note No. 16 (1998 series) that foreign investment proposals for purely financial consultancy services that are non-fund based, would not be subjected to the minimum capitalisation norms as applicable to the NBFCs subject to certain conditions. The matter has been reviewed and it has since been decided as under : 1. The guidelines for f....