Finmin, DIPP and RBI weigh raising FDI limit in sector from current 74% ICICI Bank, HDFC Bank and their private sector peers could turn into fully foreign-owned entities if a proposal to raise the overseas investment limit in the sector to 100% from 74% is accepted. The measure is being discussed by the finance ministry, the department of industrial policy & promotion (DIPP) and the Reserve Bank of India (RBI), a senior government official said. The move would be in keeping with the government's push to streamline foreign direct investment and open up key sectors to overseas participation. It's also significant in light of the RBI deeming ICICI Bank as one of India's two systemically important banks, the other one being governmentowned State Bank of India. Within the current 74% limit, 49% is allowed automatically and the rest through the approval route, which means permission has to be sought from the Foreign Investment Promotion Board (FIPB) beyond that thresh