India cbank allows issue of shares under FDI scheme

MUMBAI, June 30 (Reuters) - India's central bank said it has decided to permit the issuance of equity, preference shares under the government route of the foreign direct investment scheme for some categories.

"Payments should be made directly by the foreign investor to the company. Payments made through third parties citing the absence of a bank account or similar such reasons will not be eligible for issuance of shares towards FDI," the notification said.

For other details see: here (Reporting by Swati Bhat; Editing by Aradhana Aravindan)