Fema
1. Automatic FDI for White Label ATMs
Now the Center’s Approval will not be required for upto 100% Foreign Direct Investment in ATMs set up by non- banking entities. The move is aimed at increasing financial inclusion. Any non- Bank Entity intending to set up WLAs should have a minimum net worth of `100 crore as per the latest financial years, audited Balance Sheet which is to be maintained at all times.In case the entity is also engaged in any other 18 NBFC activities, then the foreign investment in the company setting up WLA, shall also have to comply with the minimum capitalisation norms for foreign investments in NBFC Activites.
2. Clarification on Real Estate FDI
Facility sharing agreements between group companies through leasing/ sub- leasing agreements
for the larger interest of business will not be treated as real estate business.
Now the Center’s Approval will not be required for upto 100% Foreign Direct Investment in ATMs set up by non- banking entities. The move is aimed at increasing financial inclusion. Any non- Bank Entity intending to set up WLAs should have a minimum net worth of `100 crore as per the latest financial years, audited Balance Sheet which is to be maintained at all times.In case the entity is also engaged in any other 18 NBFC activities, then the foreign investment in the company setting up WLA, shall also have to comply with the minimum capitalisation norms for foreign investments in NBFC Activites.
2. Clarification on Real Estate FDI
Facility sharing agreements between group companies through leasing/ sub- leasing agreements
for the larger interest of business will not be treated as real estate business.
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