FII Current Affairs - 2020

Union Cabinet gives nod to Composite Foreign Investment Cap

Union Cabinet has given nod to introduce composite foreign investment cap in a bid to streamline the Foreign Direct Investment (FDI) structure. Decision in this regard was taken during Union Cabinet meeting chaired by Prime Minister Narendra  Modi in New Delhi. This move will help government to club all forms of overseas investments such as Read More…

Union Government Constitutes Justice AP Shah Committee to look into the issue of MAT on FIIs

Union Government has constituted Committee headed by Justice A.P. Shah to look into the issue of Minimum Alternate Tax (MAT) on Foreign Institutional Investors (FIIs). It was announced by Union Finance Minister Arun Jaitley in Rajya Sabha. The committee will submit its report expeditiously in order to resolve the issue of MAT between the tax Read More…

Provide information to SIT on black money: RBI directs banks and FIs

The RBI has asked all Banks and Financial Institutions (FIs) to provide information and documents sought by the Special Investigation Team (SIT) set up to uncover black money. The new Government at Centre recently constituted an SIT under the chairmanship of former Justice M.B. Shah in pursuance of a July 2011 Supreme Court judgment. The Finance Ministry has Read More…

Mayaram Committee’s definitions of FDI, FII accepted by the Government of India

The Government of India has accepted the report of Mayaram Committee thereby accepting the definitions of FII and FDI. The panel headed by Finance Secretary was set up to rationalize the definitions of FII and FDI. Some key points from Mayaram Committee Report: Foreign investment of 10% or more in a listed company will now Read More…

LIC trims stake in Infosys to 3.25%; garners ₹850 cr

LIC, the biggest institutional investor in the stock market, the State-run insurer Life Insurance Corporation of India (LIC) has reduced its stake in Infosys, the country’s second largest software services exporter, to 3.25% in the last quarter. The share sale estimated at over ₹850 crore. LIC sold shares at a time (during the January-March quarter) when FIIs increased Read More…