RBI's white paper to bring clarity over FDI & FII

The ambiguities over Foreign Direct Investment (FDI) and Foreign Institutional Investor (FII) would soon be removed after RBI said it will come out with a white paper within next 15 days.

"The paper will include questions like legal and taxation issues involved in the implementation of the new definition. How the different instruments of foreign investments would be treated? How it would impact investments in listed and unlisted firms," RBI said.

The matter was discussed during the meeting of an eight- member committee headed by Department of Economic Affairs (DEA) Secretary Arvind Mayaram. The committee has been appointed for giving clear definitions to FDI and FII.

Other members of the committee include DIPP Secretary, Chief Economic Advisor in DEA, RBI Deputy Governor H R Khan and SEBI Member S Raman.

Earlier, Finance Minister P Chidambaram in his Budget speech had proposed to follow the international practice with regard to defining FDI and FII.

Read more about: rbi, fdi, fii
Story first published: Friday, April 5, 2013, 9:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?