A total of 48 investment proposals are listed on the agenda of the meeting of the FIPB

FIPB (Foreign Investment Promotion Board) will take up Kotak Mahindra Bank's proposal for raising foreign investment limit in the bank to 55 per cent on 28^th May.

The Board will also take up 47 other FDI applications in its 218^th meeting which is scheduled on 28^th May at 3:00PM.

A total of 48 investment proposals are listed on the agenda of the meeting of the FIPB.

Finance Secretary Rajiv Mehrishi is the chairman of the meeting, who is expected to recommend foreign investment proposals worth up to Rs 3,000 crore to the Finance Minister for approval.

Kotak Mahindra Bank has approached FIPB to seek the approval for raising foreign investment cap in the bank to 55 per cent.
Other proposals listed on the FIPB agenda include that of Torrent Pharmaceuticals, Strides Arcolab, Star India, Eros International Media, Reliance Golbalcom, and Indian Rotocraft.

India allows FDI in most of the sectors through automatic route, but in certain sectors considered sensitive for the economy and security, the proposals have to be first cleared by FIPB.

During last fiscal, FIPB had received 350 proposals and in 11 meetings, it cleared 241 of them.