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RBI liberalises overseas investment norms for state-run oil firms
April 25, 2013April 25, 2013by In Oil & Gas

RBI liberalises overseas investment norms for state-run oil firms

Reserve Bank of India (RBI) allowed state-run oil explorers to invest in their incorporated overseas entities without any limits under the automatic route. It may be recalled that earlier, the navratna public sector undertakings (PSUs) like OVL and OIL were allowed to invest in overseas unincorporated entities only. But the central bank liberalised the existing norms to enable these firms to invest in the incorporated JV/WOS in oil se