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Current Affairs

DPIIT: NRIs to Own Up to 100% Stake in Air India

Current context: The Department for Promotion of Industry and Internal Trade (DPIIT) has notified to allow non-resident Indians (NRIs) to control up to 100 % stake in Air India.
DPIIT: NRIs to Own Up to 100% Stake in Air India
  • The FDI policy earlier permitted NRIs to take only 49 % stake in the airline.
  • As per the notification, foreign investments in Air India including that of foreign airlines shall not exceed 49 % either directly or indirectly.
  • But, exemption has been made for those NRIs, who are Indian Nationals, where foreign investment is permitted up to 100 % under the automatic route.
  • Under the substantial ownership and effective control (SOEC) framework, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals.

Question: 

Q.1 The government has allowed _________% stake in Air India under automatic route, for those NRIs, who are Indian Nationals?
a. 49%
b. 75%
c. 90%
d. 100%
DPIIT: NRIs to Own Up to 100% Stake in Air India DPIIT: NRIs to Own Up to 100% Stake in Air India Reviewed by Neha Verma on March 20, 2020 Rating: 5

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