Committee on FDI, FII definition to finalise report by May-end
   
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Committee on FDI, FII definition to finalise report by May-end

Last Updated: Tuesday, April 30, 2013, 22:03
 
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Committee on FDI, FII definition to finalise report by May-end
New Delhi: A four-member committee on clearing ambiguity in the definitions of two types of foreign investments - FDI and FII - is likely to finalise its report by the end of next month.

The committee is headed by Department Economic Affairs (DEA) Secretary Arvind Mayaram, with DIPP Secretary, an RBI Deputy Governor and a SEBI Whole-time Member as other members.

"The Committee, which was formed with an aim to remove ambiguity over the two types of foreign investments (FDI and FII) is likely to finalise its report by May-end," a senior finance ministry official said.

At present, if an investor has a stake of 10 percent or less in a company, the investment is treated as foreign institutional investment (FII).

If an investor has a stake of more than 10 percent, it is treated as foreign direct investment (FDI).

Finance Minister P Chidambaram in his Budget speech had proposed to follow the international practice with regard to defining FDI and FII.

The committee, which held its first meeting on April 4, was constituted to examine the application of the principle and to work out the details expeditiously.

PTI


First Published: Tuesday, April 30, 2013, 22:03


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