The Cabinet Committee on Economic Affairs (CCEA) may clear Axis Bank 's proposal to hike foreign direct investment (FDI) limit to 74 percent from current 62 percent, reports CNBC-TV18. In April, the Foreign Investment Promotion Board (FIPB) had given its approval to the Rs 12,900 crore proposal. All proposals over Rs 5,000 crore are required to be cleared by the CCEA. The proposal may entail increase in foreign portfolio investment (FPI) shareholding, sources say.CCEA may clear Axis Bank proposal to raise FDI cap to 74%
The Cabinet Committee on Economic Affairs (CCEA) may clear Axis Bank 's proposal to hike foreign direct investment (FDI) limit to 74 percent from current 62 percent, reports CNBC-TV18. In April, the Foreign Investment Promotion Board (FIPB) had given its approval to the Rs 12,900 crore proposal. All proposals over Rs 5,000 crore are required to be cleared by the CCEA. The proposal may entail increase in foreign portfolio investment (FPI) shareholding, sources say.
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