NRI investments Current Affairs, GK & News

Injeti Srinivas Committee submits report

On October 22, 2020, the Injeti Srinivas Committee submitted its second interim report to the chairperson of International Financial Services Centres Authority (IFSCA). It was an IFSCA Expert Committee that was constituted to study about the international retail business development in IFSC. Background The committee as constituted to make recommendations on promoting international retail business ..

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“Dream Kerala Project” launched for Keralites returning from abroad

On July 1, 2020, Kerala announced “Dream Kerala Project”. The project is being rolled out to tap potential and experience of those returning from abroad. Highlights According to the Government of Kerala, Rs 85,000 was sent by the expatriates in 2018. This has touched now touched Rs 1 lakh crore. Their remittances in banks amount ..

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Cabinet approves amendment to ‘Foreign direct investment policy on civil aviation’

The Union Cabinet recently approved an amendment to the ‘Foreign direct investment policy on civil aviation’, which allowed Non-resident Indians (NRIs) to acquire 100 per cent equity stake in Air India under the automatic route. Prior to this amendment, only 49 per cent was available for sale to NRIs in Air India. After the proposed ..

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Kerala launches NRI Investment Company

The government of Kerala has decided to launch a Non-Resident Keralites (NRK) Investment company with 74 per cent stake to be held by expats. Non-Resident Keralites Investment Company 74 per cent of the capital NRK Investment and Holding company ltd would be raised by issuing shares to NRKs. Government of Kerala will have 26 per cent ..

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