FIPB has approved 15 FDI proposals worth Rs 7,262 crore that includes proposals from Nippon Life Insurance, Tata AIA and Aviva Life.

A Finance Ministry statement has said that “Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on March 7, the government has approved 15 FDI proposals involving Rs 7,261.6 crore and recommended one proposal for approval of CCEA involving FDI of Rs 6,885 crore.”

The Yes Bank’s proposal to hike foreign investment limit to 74 percent from existing 41.87 percent without any sub limits has been referred to the Cabinet Committee on Economic Affairs (CCEA).

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