News Snapshot:
New Delhi: Amidst growing tension between India and China, the finance ministry on Friday proposed putting restrictions on foreign investment in pension funds from any of India's bordering countries. Foreign investment in pension funds regulated by the Pension Fund Regulatory and Development Authority (PFRDA) is capped at 49 per cent with automatic route. According to a draft notification circulated for comments, "A government approval would be required for the investing entity or individual from any of the bordering countries including China. The relevant provisions of FDI policy issued from time to time would apply in all such cases." Any foreign...
