UPSC CSE Prelims 2003 Q96 — Indian Economy PYQ with Answer

Consider the following statements:

1. The maximum limit of shareholding of Indian promoters in private sector banks in India is 49 per cent of the paid-up capital.

2. Foreign Direct Investment up to 49 per cent from all sources is permitted in private sector banks in India under the automatic route.

Which of these statements is/are correct?