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National: RBI proposes norms for realty firms with FDI

The Reserve Bank of India (RBI) has proposed that the minimal capitalization requirement for any construction and real estate company with more than 75 per cent of foreign holding should be increased from five million dollars to ten million dollars. This move will be justified if the particular real estate firms are treated as a completely owned subsidiary of the foreign company.

One of the reasons why such a step has been taken is to ensure that there is no ambiguity with respect to foreign investment norms in this sector.

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