RBI LETS MUTUAL FUND INVEST $7 BILLION ABROAD
Asset management companies will now be allowed to invest $7 billion abroad , with the reserve
bank of India relaxing norms relating to overseas investment by mutual funds. The move is
in line with the central banks stated policy of encouraging flow of money outside the country. The regulator also feels that the move will enable MFs to have greater opportunities for investment overseas. The existing facility allowing a limited number of qualified Indian Mutual Fund to invest
cumulatively up to $1 billion in overseas Exchange traded Funds shall remain unchanged.
bank of India relaxing norms relating to overseas investment by mutual funds. The move is
in line with the central banks stated policy of encouraging flow of money outside the country. The regulator also feels that the move will enable MFs to have greater opportunities for investment overseas. The existing facility allowing a limited number of qualified Indian Mutual Fund to invest
cumulatively up to $1 billion in overseas Exchange traded Funds shall remain unchanged.
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