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

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....No. 4 (1997 series), had announced the norms for FDI in Non Banking 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 an....

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....ntinue to be applicable in the above cases.  (ASHOK KUMAR) Joint Secretary to the Government of India  F. No. 10(32)/97-IP                                            ....