Govt amends FEMA rules to allow 20% FDI in LIC - Moneycontrol

FEMA notification was required to operationalise the provisions DPIIT issued through a press note, including FDI policy changes that will allow large foreign portfolio investors to subscribe to shares of LIC.

The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC. The government is planni… [+2669 chars]

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