India approves 20 FDI proposals worth $146 million

NEW DELHI (Reuters) - The Foreign Investment Promotion Board has approved 20 foreign direct investment proposals worth 9.16 billion rupees, a finance ministry statement said on Tuesday.

The board also recommended private sector Federal Bank's foreign investment plan amounting to 14 billion rupees to the cabinet panel, the statement said.

For the full statement, click on: http://pib.nic.in/newsite/erelease.aspx

(Reporting by Manoj Kumar; Editing by Malini Menon)