Monday, January 15, 2007

Sebi to guard foreign VCF entry into realty space

Finance Ministry told Reserve Bank of India (RBI) that Venture Capital Funds (VCFs) are governed by Securities and Exchange Board of India (Sebi). Sebi had approved some VCF proposals, but RBI objected citing dash of policy. Realty rules allow 100% FDI in various segments. Last two years have seen higher foreign interest in domestic real estate market. RBI fears hot money influx in the guise of venture funds.


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