RBI reportedly tightens scrutiny of large overseas investments amid rupee pressure

Economic Times reports, citing two people aware of the development, that the RBI gave leading banks a checklist for Indian companies’ overseas direct investments above $1 billion and beyond the cap of four times the investing company’s net worth. Banks are to examine deal valuations, commercial rationale and the company’s ability to absorb adverse events. The report says the RBI has imposed no controls or curbs.