As per the Consolidated FDI Policy Effective from August 28 2017 recently published by Department of...........

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As per the Consolidated FDI Policy (Effective from August 28, 2017) recently published by Department of Industrial Policy and Promotion, Ministry of Commerce and Industry

Erstwhile Overseas Corporate Bodies (OCBs) have been recognized as a class of investors in India.
A company incorporated outside India and owned and controlled by NRIs can invest in India.
A Foreign Venture Capital Investor (FVCI) cannot invest in India.
NRIs may subscribe to the National Pension System (NPS).

Select the correct answer using the codes below.

1 and 3 only

2 and 4 only

1, 3 and 4 only

2 only

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Explanation:

Statement 1: OCBs have been derecognized as a class of investors in India with effect from 2003. Erstwhile OCBs which are incorporated outside India and are not under the adverse notice of RBI can make fresh investments under FDI Policy as incorporated non-resident entities, with approval of concerned authorities.

Statement 2: A company, trust and partnership firm incorporated outside India and owned and controlled by NRIs can invest in India with the special dispensation as available to NRIs under the FDI Policy. Moreover, Indian companies can issue capital against FDI.

Statement 3: A SEBI registered Foreign Venture Capital Investor (FVCI) may contribute up to 100% of the capital of an Indian company, including startups irrespective of the sector in which it is engaged, under the automatic route.

Statement 4: A Non- Resident Indian may subscribe provided such subscriptions are made through normal banking channels and the person is eligible to invest as per the provisions of the PFRDA Act. The annuity/accumulated saving will be repatriable (i.e. can be taken back abroad).