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.