May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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| 240 | Part III: The Economics of Development
Non-residents of Indian nationality and origin had been allowed to
make investments up to 74 per cent in any of the priority industries.
The incentive of higher interests on deposits of one year and above
for Non-Resident (External) Rupee Account Scheme and Foreign
Currency Non-Resident Account Scheme, was expected to give a
fi llip to such deposits.
The Reserve Bank of India on 21 April, 1981 also announced
steps liberalizing the norms for investment by non-resident Indians.
They could now invest, with repatriation rights, in any new or
existing company up to 40 per cent of the capital issued by such a
company provided (a) the shares were purchased through a Stock
Exchange, (b) the purchase of ...
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