NEW DELHI -- The Ministry of Finance has allowed forex broking companies to share equity with foreign companies. Currently NBFCs engaging in 14 activities only are allowed to shed equity to foreign companies.

The guidelines applicable for considering proposals of foreign equity participation in non-banking financial companies would be equally applicable for foreign equity participation in forex broking, the release said.

Choksey dead

MUMBAI -- The chairman of Asian Paints (India) Limited C H Choksey died here yesterday. He was 81. Choksey's association with paint industry dates back to more than 50 years when he started the Asian Oil and Paint Company (India) Pvt Ltd along with his business associates.

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