Multiple choice

All joint ventures in India require government approvals if a foreign partner or a Non Resident Indian is involved. The approval can be obtained from which of the following?

  1. RBI

  2. FIPB

  3. BIFR

  4. All of these

  5. Either RBI or FIPB
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

This is the correct answer. Reserve Bank of India gives approval if the joint venture is covered under the automatic route. Foreign Investment Promotion Board has to approve a joint venture specially, if it is not covered under the automatic route and it is a special case.

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