Archive · 27 Dec 2025
Government Addresses NRI Concerns, Punjab Tensions Rise
On December 27, 1985, the Finance Minister of India, V P Singh, met with about 250 non-resident Indians (NRIs) in New Delhi to discuss their investment problems.
He announced a new system called the NRE cheque system to help NRIs buy shares in Indian companies more easily.
Meanwhile, in Punjab, there was tension and a curfew in Gurdaspur after a clash between two communities.
A protest called by the Shiv Sena and the Punjab Brahmin Sabha led to more tension in some cities.
One person was killed in the clash, and the situation remained tense.
Finance Minister V P Singh held an open house session with 250 NRIs in New Delhi to address their investment concerns.
Singh announced the introduction of a special NRE cheque system to speed up share allotment and purchase for NRIs.
The 5% ceiling on investment in Indian companies by NRIs was discussed but not decided upon.
Tensions and a curfew were reported in Gurdaspur, Punjab, following a clash between two communities.
A state-wide bandh was called by the Shiv Sena and the Punjab Brahmin Sabha in protest against the Gurdaspur incident, leading to further tension in urban areas.
- Who
- Finance Minister V P Singh, Non-Resident Indians (NRIs), Shiv Sena, Punjab Brahmin Sabha
- What
- Open house session with NRIs, announcement of NRE cheque system, tensions and curfew in Punjab
- When
- December 27, 1985
- Where
- New Delhi, Punjab (Gurdaspur)
- Why
- To address NRI investment concerns and discuss regulatory issues, and in response to a clash between communities in Gurdaspur
- Date
- December 27, 1985
- Location
- New Delhi, Punjab
- Event
- Open house session with NRIs
- Announcement
- Introduction of NRE cheque system
- Incident
- Clash in Gurdaspur, curfew imposed
- Protest
- State-wide bandh by Shiv Sena and Punjab Brahmin Sabha