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RBI permits NRIs to invest up to 24% in TV Today Network

The Reserve Bank of India has provided its consent to Non Resident Indians (NRIs) for investing up to 24 percent in TV Today Networks under the Portfolio Investment Scheme (PIS).

On Wednesday RBI said that the company “has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by NRIs.”

The central bank, on Tuesday had allowed foreign investors to invest up to 26 percent in TV Today Network.

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