Financial Daily from THE HINDU group of publications
Saturday, Sep 06, 2003
Financial Daily from THE HINDU group of publications Saturday, Sep 06, 2003 |
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Foreign Direct Investment Industry & Economy - Foreign Direct Investment Money & Banking - NBFCs StanChart's plan for 100% NBFC gets clearance Our Bureau
New Delhi , Sept. 5 THE Government has allowed Standard Chartered Bank to set up a 100 per cent wholly owned non-banking financial company (NBFC) in the country. Standard Chartered's Rs 250-crore foreign direct investment (FDI) proposal was among the 11 cleared by the Finance Minister, Mr Jaswant Singh, at a meeting here on Friday. The Foreign Investment Promotion Board (FIPB) had earlier cleared all the 11 proposals, involving a total investment of Rs 254.77 crore, at a meeting held on August 23.
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