Overseas investment ceiling for SEBI-registered mutual funds increased; investments subject to SEBI terms and RBI reporting. The aggregate ceiling for overseas investment by mutual funds registered with SEBI has been increased with immediate effect; investments must comply with the terms and operational guidelines issued by SEBI and continue to be subject to monthly statistical reporting to the Reserve Bank. Authorised Dealer Category I banks are directed to inform constituents, and the directions are issued under FEMA sections 10(4) and 11(1), without prejudice to other legal permissions.
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Overseas investment ceiling for SEBI-registered mutual funds increased; investments subject to SEBI terms and RBI reporting.
The aggregate ceiling for overseas investment by mutual funds registered with SEBI has been increased with immediate effect; investments must comply with the terms and operational guidelines issued by SEBI and continue to be subject to monthly statistical reporting to the Reserve Bank. Authorised Dealer Category I banks are directed to inform constituents, and the directions are issued under FEMA sections 10(4) and 11(1), without prejudice to other legal permissions.
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