Consider the following statements regarding RBI’s recent framework for reclassification of FPI to FDI:
1. According to the RBI, FPIs must obtain concurrence from the investee company before seeking government approval for reclassification to FDI.
2. FPIs have unrestricted rights to increase their equity holdings without adhering to sectoral caps.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2