Modi Eases FDI Caps to Regain Momentum as Stocks, Rupee Drop

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  • Allows 100% FDI for cable TV operators, duty free shops
  • Funds can buy up to 74% of private banks, with fungibility

India’s Prime Minister Narendra Modi eased restrictions on foreign direct investment in 15 industries in a bid to revitalize economic reform momentum and halt a stock selloff that threatens to send the local currency to a record low.

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