.................The finance ministry and the Reserve Bank of India have sought clarity on the issue and want to align the definition of ‘control’ in the FDI policy with the proposed definition in the new Companies Bill to get more investments into the country. During his Budget speech, the finance minister had clarified he and his team would amend the definition of ‘FDI’ and ‘FII (foreign institutional investment)’ to remove ambiguity and to adhere to the international definition..........
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