FDI Policy - step down (operating) subsidiaries by NBFCs
THE Government of India has reviewed the policy and decided to permit NBFCs
(i) having foreign investment above 75% and below 100% and
(ii) with a minimum capitalisation of USD 50 million,
to set up step down subsidiaries for specific NBFC activities, without any restriction on the number of operating subsidiaries and without bringing in additional capital.
This decision takes immediate effect