-The Times of India
The Supreme Court has said that the UPA govt did not follow the proper legal route while allowing 100% FDI in retail trade.
The apex court gave the government time till November 5 to amend the FEMA policy decision as per the legal requirements.
The attorney general informed the court that the RBI is pursuing the amendments and the process would be expedited.
In September, the government introduced new laws that allow upto 51% FDI in multi-brand retail.
The decision was opposed by Mamata Banerjee, who was the main ally of the Congress in the coalition government at the Centre.
Mamata went on to quit the government over this decision, reducing UPA-2 to a minority.