Setting up of step down (operating) subsidiaries by NBFCs having foreign investment above 75% and below 100% and with a minimum capitalisation of US$ 50 million - amendment of paragraph 6.2.24.2 (1) (iv) of 'Circular 1 of 2012- Consolidated FDI Policy'

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..... ndustrial Policy & Promotion Press Note No. 9 (2012 Series) Subject: Setting up of step down (operating) subsidiaries by NBFCs having foreign investment above 75% and below 100% and with a minimum capitalisation of US$ 50 million - amendment of paragraph 6.2.24.2 (1) (iv) of 'Circular 1 of 2012- Consolidated FDI Policy' 1.0 Present Position: 1.1 As per paragraph 6.2.24.2 (1) (iv) of Circular 1 .....

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..... without any restriction on the number of operating subsidiaries and without bringing in additional capital. 3.0 Amendment to paragraph 6.2.24.2 (1) (iv): 3.1 Accordingly, Paragraph 6.2.24.2 (1) (iv) of Circular 1 of 2012- Consolidated FD1 Policy', effective from 10.4.2012, is amended to read as below: NBFCs (i) having foreign investment more than 75% and up to 100%, and (ii) with a minimum cap .....

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