Union Government clears 12 FDI Proposals

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New Delhi, Jan 10: The central government has approved twelve proposals of Foreign Direct Investment (FDI) amounting to over Rs 1827 crore.

According to an official release, these proposals were cleared on the basis of the recommendations of Foreign Investment Promotion Board.

Of them, the highest Rs 1150 crore FDI proposal of Ratnakar Bank Limited seeking an Initial Public Offer of its equity shares was cleared by the government.

Besides, a FDI proposal amounting to Rs 422 crore was also approved which is related to a pharma company, Tevapharm India Private Limited seeking permission for issuance of equity shares.

-ANI

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