January 9, 2014 / 12:51 PM / 4 years ago

India's cbank eases foreign direct investment rules

MUMBAI, Jan 9 (Reuters) - India’s central bank on Thursday relaxed foreign direct investment regulations to allow investors to exit their investments subject to the conditions of a minimum lock-in period and without any assured returns.

The Reserve Bank of India said the relaxation was expected to facilitate great foreign direct investment (FDI) inflows into the country.

Asia’s third-largest economy saw FDI inflows from April to October in 2013 drop 15 percent from a year earlier to $12.6 billion, despite the opening of new sectors. (Reporting by Sumeet Chatterjee; Editing by Prateek Chatterjee)

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