RBI liberalises norms for PSU investment - Business Today

Home /SECTORS /PSU /Story PTI    Mumbai   Last Updated: April 24, 2013  | 10:50 IST Liberalising investment norms for the oil and gas sector, RBI on Tuesday allowed state run ONGC Videsh (OVL) and Oil India (OIL) to invest in their incorporated overseas entities for exploration and drilling of oil and natural gas. "On a review, it has now been decided that such facility is also extended to the overseas investments in the incorporated JV/WOS in oil sector (for exploration and drilling for oil and natural gas) by the navratna PSUs and OVL and OIL, which are duly approved by the government, without any limits under the automatic route," it said. Earlier, the navratna PSUs, OVL and OIL were allowed to invest in overseas unincorporated entities only. Cabinet approves Rs 1,083 cr revival plan for HMT Goldman Sachs to manage ETF of PSU firms Govt initiates process for EIL stake sale Stock markets closed on Mahavir Jayanti Reliance Communications ties up with Twitter Govt considering 10 pc stake sale in CIL via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG_be7vl2Ec5MJN0zq4xKE60iT-Lw&url=http://businesstoday.intoday.in/story/rbi-eases-norms-for-psu-investment-in-oil-sector-overseas/1/194365.html

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