Vide its Circular no. RBI/2011-12/626 A.P. (DIR Series) Circular No. 137 dated June 28, 2012, the Reserve Bank has notified changes in the FDI policy to allow FIIs to invest up to 23 percent in commodity exchanges without seeking its prior approval.
These changes were approved by the Department of Industrial policy and Promotion (DIPP) on April 10, 2012.
In order to streamline the procedures to boost foreign investment into the country, the DIPP comes out with a consolidated FDI circular every year. The next circular would be released on 29 March, 2013.
RBI had made certain other procedural changes in the circular and incorporated announcements made with regard to 100 percent FDI in single brand and relaxation of guidelines for pharmaceutical sector.
The Public Gambling Act, 1867 also known as the "Gambling Act" is the primary law which governs gambling in India. However, the state legislatures, under the Constitution of India, are currentl More
Helplinelaw can set up your session with quality and experienced lawyers to discuss and resolve your legal matters. You can avail consultation in form of sending questions, phone call or webchat discussion More