On Thursday, the Finance Minister Arun Jaitely said that India has simplified rules for foreign investment in companies by clubbing together different categories.

“One of the most important decisions in relation to the investment is the introduction of composite caps for simplification of foreign direct investments,” Jaitley said.

He said, foreign direct investment, foreign portfolio investment and investments by non-resident Indians would be “clubbed together under a composite cap”.

After the announcement banking stocks went up.

Get the best stock recommendations