Bank of Mauritius approaches RBI to clear the air on NBFC impasse

Bank of Mauritius has written to its Indian counterpart, explaining the mechanism by which investments are greenlighted via the country, and highlighted importance of Mauritius as an investment hub

The Bank of Mauritius, the African country’s apex bank, has approached the Reserve Bank of India (RBI) to resolve the impasse surrounding the recent rejection of applications for foreign direct investment in non-banking financial companies (NBFCs) routed through the island nation, said people in the know.
 
The governors of the two banks discussed the issue over the phone. Separately, the Bank of Mauritius has written to its Indian counterpart, explaining the mechanism by which investments are greenlighted via the country, and highlighted the importance of Mauritius as an investment hub.
 
This follows domestic representations made to the regulator