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FIPB clears 23 FDI proposals

On Monday, the Foreign Investment Promotion Board has cleared 23 FDI proposals which also includes those of Bandhan Financial Services and Catholic Syrian Bank.

The FIPB meeting which was chaired by Finance Secretary Rajiv Mehrishi considered 47 foreign investment proposal.

Bandhan Financial Services has been granted universal banking licence by the Reserve Bank.

The proposals which were cleared besides Bandhan and Catholic Syrian Bank includes GSK Pharma, Mylan Laboratories and Den Networks.

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