Reserve Bank of India to share FDI-related information with IB and RAW

The Reserve Bank of India will share FDI-related information with country's intelligence agencies IB and RAW to check black money from entering the country. 

•    The decision was taken during a recent meeting of a government group, headed by Revenue Secretary, to check economic crimes. 
•    During the meeting of "Working Group on Intelligence Apparatus", representatives of Intelligence Bureau felt that it is important to have the information. 
•    It was decided that RBI should share with IB and Cabinet Secretariat, information on FDI which actually enters the country, the sources said. 
•    Foreigners who bring FDI may also get long-term visa or residency permit as the option is being explored by the government to make travel easy for businessmen as part of its 'Make In India' campaign, the official said. 

•    In 2016-17 budget, Finance Minister Arun Jaitley has announced 100 per cent FDI through government approval route in the marketing of food products produced and manufactured in India. 
•    FDI flows into India nearly doubled in 2015 to USD 59 billion, according to a report of United Nations Conference on Trade and Development. 
•    Foreign Direct Investment is important for the country as it needs around USD 1 trillion worth investments between 2012-13 and 2016-17, the 12th Five Year Plan period, to fund infrastructure growth covering sectors such as ports, airports and highways.