Over 67 FDI proposals worth Rs 117 bn approved during April-December: Govt

As many as 67 foreign direct investment proposals worth Rs 117 billion were approved during the first nine months of the ongoing financial year, the Rajya Sabha was informed on Tuesday.

In a written reply, Minister of State for Finance P Radhakrishnan said "the government has cleared 67 FDI proposals worth Rs 117 billion during the period April 1, 2017 to December 31, 2017".

An FDI proposal worth Rs 5.32 billion of Metaffinity Pvt Lt, an investment holding company, got the government's nod, the minister said.

"The foreign invest is to be brought in by two foreign investors, viz Canada Pension Plan Investment Board and Pantheon-HK Project Universe, LP, for up to 49 per cent stake in the form of non-voting equity share of Metaffinity Pvt Ltd," as per the reply.

To another question, he said the government does not propose to raise the limit of deposit under Senior Citizens' Savings Scheme (SCSS) from Rs 15,00,000.

All the public sector banks and three private sector banks (Axis Bank, ICICI Bank and HDFC Bank) have been authorised to operate SCSS, besides the Department of Posts.

Senior citizens can open more than one account under the scheme subject to the overall limit of Rs 15,00,000, the minister said.