Under the new norms, all restaurants/eating houses in Five and Four Star Hotels, those within Airport, railway station and ISBT premises will be permitted to operate on a 24X7 basis after payment of necessary fee.
Department of Industrial Policy & Promotion (DIPP) maintains that the licensing norms will take care of most of the concerns raised by the home ministry on raising FDI caps in many sectors , reports CNBC-TV18‘s Rituparna Bhuyan.
Sandeep Parekh of Finsec Law Advisors told CNBC-TV18 that the clarifications issued by the banking regulator Reserve Bank of India (RBI) involved a lot of subjective interpretations and welcomed the decisions to extend the implementation time to 18 months from one year.