MUMBAI, NOV 12: The Reserve Bank of India (RBI) has extended the general permission granted for issue of equity shares to foreign investors under the automatic route to include preference shares as well.The automatic approval route for issuing prefernce shares would also include issues to non-resident Indians or overseas corporate bodies as per the 100 per cent scheme, the RBI said.
The issue of equity upto 100 per cent is in respect of items included in part D-annexure III list as per the ministry of industry press note dated June 13, 1998.
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