Overseas investment policy

Liberalisation of the policy on Indian investment overseas was first undertaken in 1992 on the recommendations of the Kalyan Banerjee Committee.  Further liberalisation, and streamlining of procedures, was undertaken in 1995 when revised guidelines were notified.  Since then the policy has been consistently liberalised from time to time.  As per the Notification issued by Ministry of Commerce vide their No.4/1/93-EP(OI) dated 17^th August 1995 , RBI became the designated nodal agency for administering the policy, which had earlier been entrusted to the Ministry of Commerce.