Question: Recently the Cabinet Committee on Economic Affairs granted ex-post facto approval to the proposal of M/s Yes Bank Ltd. for increase in the foreign investment limit to what percent from the existing foreign equity of 41.87%?
(a) 60 Percent
(b) 64 Percent
(c) 74 Percent
(d) 83 percent
Ans: (c)
Related facts:
- On 25 May 2016 the Cabinet Committee on Economic Affairs granted ex-post facto approval to the proposal of M/s Yes Bank Ltd. for increase in the foreign investment limit to 74% from the existing foreign equity of 41.87%.
- This does not have any sub-limits for investment by way of issue of non-equity shares and/or other permissible instruments to eligible non-resident investors.
- This will result in a Foreign Direct Investment of US $ 1 billion (Rs. 6885 crores approx.) in the country.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=145651