RBI permits Indian entities to made direct investments in Pakistan

Giving a fillip to bilateral trade and investments b/w India and Pak, RBI allowed India entities to make direct investments in Pakistan.

The decision comes after India recently allowed investment from Pakistan. RBI will make necessary amendments in the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004, to implement the move. Trade b/w the two nations stood at about $3 billion and it is expected to touch $6 billion in the next 3 years. 

Month: Current Affairs - September, 2012