CCEA to take Rs 10,000 cr FDI proposal of IDFC

FIPB does not have an ambit to clear proposals involving FDI of over Rs 1,200 crore

The Cabinet Committee on Economic Affairs (CCEA) is likely ot take up a from IDFC to raise funds from overseas investors up to Rs 10,668 crore on Thursday.

The proposal by IDFC Trustee Company to set up an alternative investment fund for receiving contributions from international investors has been referred to CCEA by the Foreign Investment Promotion Board (FIPB).

The proposed fund relates to infrastructure development.

FIPB does not have an ambit to clear proposals involving foreign direct investment (FDI) of over Rs 1,200 crore.