100% FDI in commodity broking and financial services approved

100 percent foreign investment in commodity broking Cabinet on Wednesday approved. Also, 100 percent FDI in the financial services, banking and foreign exchange management regulations approved by the Cabinet also approved.

2016-17 Budget, Finance Minister Arun Jaitley had announced foreign investment. RBI and SEBI regulations to meet the financial services through the automatic route has been approved to invest 100 per cent. Currently, only 18 special banking services through the automatic route can be 100 per cent.

The move is expected to increase foreign investment in the country. In 2015-16, foreign investment in the country rose 29 percent to $ 4,000 million (Rs 2.68 lakh crore)

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