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Cabinet gives ex-post facto approval to Yes Bank's proposal for increase in FI limit

Cabinet gives ex-post facto approval to Yes Bank's proposal for increase in FI limit

May 26, 2016, at 02:09 am

New Delhi, may 25 (IBNS): The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday granted ex-post facto approval to the proposal of Yes Bank Ltd. for increase in the foreign investment limit to 74% from the existing foreign equity of 41.87% without any sub-limits, for investment by way of issue of non-equity shares and/or other permissible instruments to eligible non-resident investors.