No objection from RBI and DIPP to FDI increase in Idea Cellular The Reserve Bank of India and the department of industrial policy and promotion (DIPP) have not raised any objections to increase in foreign direct investment of Idea CellularNSE -0.88 %, taking its proposed merger with Vodafone India closer to realisation. Once Idea gets clearance to increase FDI in itself from nodal agency department of telecommunications (DoT), the two companies will need to ask DoT to transfer Vodafone’s licence to Idea for final approval of the mega merger that would create India’s largest mobile phone operator by revenue and subscribers, officials said. While RBI has not found any lapse on account of Foreign Exchange Management Act in the merger of downstream subsidiaries of Idea Cellular and Vodafone India, DIPP has asked DoT to get clarification and documentation on whether all upstream and downstream companies that hold shares in the Indian entities are FDI compliant. “We have to check whe