Other Briefings
India Approves New Anti-Corruption Agency
Dec. 18 – India’s upper house of Parliament passed a measure Tuesday that will create a new independent anti-corruption agency with the broad authority to investigate senior politicians and other high-level allegations of corruption. The Lokayuktas Bill (Lokpal Bill) has been stalled in the upper house for more than two years since social activist Anna […]
India Struggles Forward with Prevention of Corruption
Dec. 2 – In a positive sign for doing business in India, a new anti-corruption bill is currently awaiting approval by the Indian parliament. The Prevention of Bribery of Foreign Public Officials and Officials of Public International Organizations Bill (Bill) seeks to amend the loopholes that existed within the original Prevention of Corruption Act (Act) […]
India’s Gold Dilemma
By Kavita Patel Nov. 25 – India’s voracious appetite for gold may be an obstacle to its economic growth. The subcontinent is the world’s leading consumer of gold but has almost no domestic supply. As rising income boosts demand, gold imports jumped from about 471 tons in 2001 to around 1,017 tons in 2012. Demand […]
2013 Changes in Indian FDI Policy
For foreign institutional investors (FII) and firms considering foreign direct investment (FDI), a familiarity with India’s recent changes in FDI policy is critical. Amendments made this year in Indian FDI policy impact a number of key business sectors, and in many instances eliminate the need for approval from the Indian Government before investing. Below, important amendments made to India’s foreign investment policy in 2013 are summarized.
RBI Issues New Circular on Foreign Investment in Credit-Enhanced Debt
The Reserve Bank of India has issued a new circular designed to increase capital inflows by allowing foreign investors to purchase credit-enhanced bonds issued in India. The new decree, Circular No. 74, will allow foreign institutional investors (FII) and qualified foreign investors (QFI) to purchase a total of US$5 billion in domestically issued credit-enhanced bonds.
India Pushes RBI to Loosen Infrastructure Financing Rules
Nov. 11 – Arvind Mayaram, economic affairs secretary at the Indian Finance Ministry, has called upon Raghuram Rajan, governor of the Reserve Bank of India (RBI), to transform the rules relating to infrastructure financing as well as the treatment of non-performing loans in that sector. The Finance Ministry views these potential moves as key to […]
Reserve Bank of India Signs MoU with Australia and New Zealand
Nov. 8 – The Reserve Bank of India (RBI) has signed a memorandum of understanding (MoU) with the Australian Prudential Regulatory Authority and the Reserve Bank of New Zealand this week during Deputy Governor K.C. Chakrabarty’s visit to the two countries. The new MoU establishes “supervisory cooperation and supervisory exchange of information” between Australia and […]
India to Allow Foreign Banks Access to Local Markets
After markets closed on Wednesday, the Reserve Bank of India, the country’s Central Bank, announced a series of new regulations that would allow foreign banks much greater access to the country’s domestic market.
