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Part C : RBI/FEMA
Given below are the highlights of 6 Press Notes issued by the
Ministry of Commerce & Industry.
17 Press Note No. 2 (2008), dated 12-3-2008
— Guidelines for foreign Investment in Commodity Exchanges.
The guidelines for foreign investment in Commodity Exchanges
are :
1. Foreign investment i.e., Foreign Direct
Investment (FDI) and Portfolio Investment Scheme (PIS) is allowed up to 49%
after obtaining prior approval from FIPB.
2. Investment by FII under PIS will be limited to 23% and
they can buy only in the secondary market.
3. Investment under FDI will be limited to 26%.
4. No foreign investor/entity, including persons acting in
concert, can hold more than 5% of the equity in these companies.
