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India Business Bulletin (February 2017)

The Reserve Bank of India is expected to formulate standard operating procedures for approval of FDI proposals by Ministries, following the Government’s decision to phase out FIPB. As per discussions being held by inter-ministerial committee, once the FIPB is abolished, the onus of approving FDI proposals would be on the ministries and regulatory authorities concerned. Further, it appears that there is a possibility of approving the FDI proposals along with grant of requisite licences in most cases.

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