Government approves Rs1,935-crore FDI in 20 projects

10 Jan 2012

1

The government today approved 20 foreign direct investment proposals, including investments in financial services, electronic media etc, involving a total investment of Rs1,935.24 crore.

The FDI proposals were cleared following recommendations of the Foreign Investment Promotion Board (FIPB).

The government cleared Sterlite Grid's Rs1,150-crore proposal to act as an investment company. Equitas Micro Finance India Private Limited, Chennai, has been allowed to demerge its microfinance business with its WoS. Post demerger, the company will be an NBFC-core investment company. The proposal involves investment worth around Rs230 crore

Mauritius-based Funderburk 2 Mauritius Ltd has been allowed to subscribe to the equity shares of an Indian company engaged in the business of multi commodity exchange for derivative markets across all commodity segments.

Other proposals cleared include equity subscription through FDI to Financial Inclusion Network & Operations Ltd, Mumbai (ex post-facto).

The subscription to equity shares has been approved without satisfying the minimum capitalisation requirements for FDI in NBFCs, an official release said today.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more