The FIPB, headed by Finance Secretary Arvind Mayaram, at its meeting on Tuesday considered 35 proposals.
SSTL is the second operator after Vodafone that has approached FIPB for raising FDI limit.
The Finance Ministry has called a meeting of heads of public sector banks to clear stalled projects.
Markets recorded their biggest single-day fall since August 1 amid growth concerns in the euro zone.
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