NBCC Gets RBI Nod To Invest In Overseas Unit; Remits AED 1 Million As Equity

NBCC (India) Ltd. on Tuesday said it has received approval from the Reserve Bank of India to invest in its wholly-owned arm NBCC Overseas Real Estate LLC via overseas direct investment.

Following the approval, the company has remitted AED 1 million as equity into the subsidiary, it said in an exchange filing.