INVESTMENTS BY NRIs MADE EASY

Article Abstract:

The Reserve Bank of India (RBI) has announced a series of measures aimed at simplifying non-resident investments in India. The measures include general permission for investments in the deposit schemes of companies by non-resident Indians (NRIs), overseas corporate bodies (OCBs) and persons of Indian origin. The RBI has also permitted repatriable investments by NRIs and OCBs in air taxi operations, subject to clearance by the director general of Civil Aviation. NRIs and PIOs have also been permitted to lend to individuals, partnerships and proprietorship firms and transfer shares as gifts. They can also invest in government securities and treasury bills and sell shares acquired through direct investment schemes without RBI permission. (khr)

Government domestic functions, Banking Institutions, Depository Credit Intermediation, Banks (Finance), Reserve Bank of India

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BUILD ON CASHEW

Article Abstract:

India has exported 60,200 tonnes of cashew kernels earning Rs1,250 crore in the first nine months ended December 31, 1998 (58,300 tonnes valued at Rs1,041 crore in the first nine months ended December 31, 1997). The realisation per kilogram (kg) has increased to Rs207.56 kg from Rs178.62. The net amount earned from cashew is Rs662 crore for the first nine months of 1998-99 (Rs583 crore). India has imported 160,000 tonnes of raw cashew in the nine months ended December 31, 1998 valued at Rs588 crore (141,000 tonnes valued at Rs458 crore). India is estimated to produce 500,000 tonnes of cashew in 1998-99. India has a processing capacity of 800,000 tonnes per annum. (rk)(m)

Comment:

India has exported 60,200 tonnes of cashew kernels earning Rs1,250 crore in the first nine months ended December 31, 1998 (58,300 tonnes valued at Rs1,041 crore in the first nine months ended December 31, 1997).

Foreign trade, Fruit and Tree Nut Farming, Fruits & Nuts, Produce industry

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