Commerce Ministry releases consolidated FDI policy document
Policy includes start-ups for the first time
2017 circular includes all FDI policy amendments since last circular
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Tag: NRI
Ministries’ decision on FDI proposals can’t be over-ridden, DIPP clarifies
The right to reject a foreign direct investment proposal in a sector vests with the designated administrative ministry and not the Department of Industrial Policy & Promotion. This is despite a provision in the rules that states that the DIPP’s “concurrence shall compulsorily be sought’’, a s…
Currency Ban Impact | RBI issues 25-point FAQ explaining Rs 500-1000 note move
Faqs on withdrawal of legal tender character of the Old High Denomination (OHD) Bank notes. Q: Why is this scheme? A: The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security featu…
Bank NPAs in Gujarat cross Rs 25,000 crore mark
Banks in Gujarat are seeing a “drastic jump” in the quantum of bad loans. In March this year, the Non-Performing Assets (NPAs) for the banks in the state have crossed the Rs 25,000 crore mark, with MSMEs forming the largest chunk of this NPA-pie. The latest report of the State Level Bankers’ Comm…
Start-up to give Mumbai’s kaali-peeli taxis a tech facelift
An NRI techie, who’s come back from the US, promises to remove inefficiencies in the ‘Kaali-Peeli’ taxi system in Mumbai and similar services in other top cities in the country. It has signed 1,600 cab drivers to join the network. Fresh with a licence from the Maharashtra government to run a cab …
U.P. Pravasi Diwas woos NRI investors
Exalting UP Government ‘s initiative to engage the Indian Diaspora for development, State Minister Balwant Singh Ramoowalia said, that there are over 25 million Indians staying in foreign land and many of them hold high posts in government and industries. It is important to engage the NRIs to bri…