FDI funds may be routed via independent accounts with banks to protect investors

..........The Reserve Bank of India is considering making it mandatory for foreigners to route foreign direct investment (FDI) into India through independent accounts with banks to ensure funds are not misused by company issuing shares. The move comes after the central bank detected that some companies were using the flexibility in the rules to retain the funds remitted by the foreign investor for as long as three months and return that later without issuing any equity...........

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