Photo for representational purpose only
New Delhi, June 20
Amid LAC tension, the Finance Ministry has proposed restrictions on pension fund investments from any bordering country. Foreign investment in pension funds regulated by the Pension Fund Regulatory and Development Authority is capped at 49 per cent under the automatic route.
TRIGGER: LAC CRISIS
A govt approval would be required for the investing entity or individual from any of the bordering countries, including China.
According to a draft notification circulated for comments on Friday, “A government approval would be required for the investing entity or individual from any of the bordering countries, including China.”
The restriction will be applicable from the date of notification by the Centre. Stakeholders can submit their comments on the draft in 30 days.
At present, the government approval is must only for investments coming from Bangladesh and Pakistan. — PTI
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