67 FDI proposals of Rs 11,703 cr approved during Apr-Dec

As many as 67 foreign direct investment proposals worth Rs 11,703 crore were approved during the first nine months of the ongoing fiscal, the Rajya Sabha was informed today.

In a written reply, Minister of State for Finance P Radhakrishnan said “the government has cleared 67 FDI proposals worth Rs 11,703 crore during the period April 1, 2017 to December 31, 2017”.

An FDI proposal worth Rs 532 crore of Metaffinity Pvt Lt, an investment holding company, got the government’s nod, the minister said.

“The foreign invest is to be brought in by two foreign investors, viz Canada Pension Plan Investment Board and Pantheon-HK Project Universe, LP, for up to 49 per cent stake in the form of non-voting equity share of Metaffinity Pvt Ltd,” as per the reply.

To another question, he said the government does not propose to raise the limit of deposit under Senior Citizens’ Savings Scheme (SCSS) from Rs 15 lakh.

All the public sector banks and three private sector banks (Axis Bank, ICICI Bank and HDFC Bank) have been authorised to operate SCSS, besides the Department of Posts.

Senior citizens can open more than one account under the scheme subject to the overall limit of Rs 15 lakh, the minister said.moneycontrol