 "Reserve Bank of India, RBI")
The Reserve Bank of India (RBI) is scrutinising foreign direct investment (FDI) in non-banking financial companies (NBFCs) routed through private equity (PE) and venture capital (VC) funds domiciled in Mauritius, and has rejected at least a dozen applications for greenfield investments or acquisitions.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by the Financial Action Task Force (FATF) as having weak measures to combat money laundering and terrorist financing, sources said.
A regulatory source said the RBI had been concerned
