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The rural landscape of Gujarat is witnessing a remarkable transformation thanks to the state government's 'Vatan Prem Yojana', which encourages NRIs to contribute to the development of their native villages under a public-private partnership model. Launched in 2021, the scheme encourages donations from non-resident Indians of Gujarati origin to fund projects, such as the renovation of schools and other infrastructure works, in their native villages. Khadal in Kheda district has benefitted from the scheme, particularly in the education sector, said village sarpanch Phulsinh Zala. He said thanks to donations worth Rs 72 lakh from NRIs, the village now has a new school that provides quality education to nearly 400 students and inspires other villages. "Children have become enthusiastic. People from other villages come here to witness this transformation. They were curious about how it was built, so I explained that it was constructed under the Vatan Prem Yojana," Zala told ...
Markets regulator Sebi has allowed up to 100 per cent aggregate contribution by non-resident Indians, Overseas Citizens of India, Resident Indians in the corpus of FPIs that are based out of International Financial Services Centre (IFSC). The move is expected to enhance investment by Foreign Portfolio Investors (FPIs) in India. In a circular issued on Thursday, Sebi said it has amended FPI rules to "provide flexibility of having up to 100 per cent aggregate contribution by non-resident Indians (NRIs), Overseas Citizens of India (OCIs) and Resident Indians (RI) Individuals in the corpus of FPIs based in IFSCs in India and regulated by International Financial Services Centres Authority (IFSCA)". Over the years, there has been a consistent demand to channel more NRI and OCI investments into the Indian securities markets by enabling greater participation of NRIs and OCIs in FPI corpuses. In the July 2019 budget speech, Finance Minister Nirmala Sitharaman had also recognized that despit