BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Foreign Investment Permanent Board
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Foreign Industrial Promotion Board
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Foreign Investment Promotion Board
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Financial Investment Promotion Board
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Detailed explanation-1: -The Foreign Investment Promotion Board (FIPB), housed in the Department of Economic Affairs, Ministry of Finance, is an inter-ministerial body, responsible for processing of FDI proposals and making recommendations for Government approval.
Detailed explanation-2: -The Foreign Investment Promotion Board [FIPB] was the most crucial body for FDI approvals until it was abolished because it could review applications valued at less than Rs. 3000 crore. The Cabinet Committee on Economic Affairs examined the FDI application if it exceeded this specified value.
Detailed explanation-3: -Under the Government Route, prior approval of the Government of India, Ministry of Finance, Foreign Investment Promotion Board (FIPB) is required. Entry route for foreign investors as well as sector-specific investment limits in India are given in Annex-2. FDI Policy is formulated by the Government of India.
Detailed explanation-4: -FIPB Functions Quickly approve FDI proposals. Review FDI policies and help set up transparent guidelines that encourage FDI into different sectors. To examine the implementation of the various proposals that it had approved.