Corporate India's investment in overseas ventures drop 47% to $ 1.54 bn in September, reveals RBI data
Of the total $1.55 billion investment in September, $950.82 million was in the form of loans, $251.84 million was infused as equity capital and $352.08 million was through the issuance of guarantee, RBI data on outward foreign direct investment (OFDI) showed.
Under the modified norms, all types of direct and indirect overseas investments, whether portfolio or FDI, will be subject to a composite foreign investment cap for that particular sector.
The financial commitment should be limited within 400 percent compared to earlier level of 100 percent of the net worth as per the last audited balance sheet of the company, it said.
Direct Investment abroad moved up by $5.7 billion during the quarter to $103.9 billion as on end-June 2011.