Govt plans single-window FDI nod.

The finance ministry is putting in place a single-window system for clearance of foreign direct investment proposals - a job it is taking over from the Reserve Bank of India - in a bid to speed up the process. With the setting up of the new office the government is also expected to take a call on RBI's move to double foreign exchange remittance for purchase of immovable property to $2.5 lakh - a proposal that has been hanging fire since February for want of government clearance.

TIMES OF INDIA