Overseas investment limits expanded for mutual funds; enhanced ceiling and continued reporting obligations to the central bank. The circular liberalises overseas investment by mutual funds by raising the aggregate ceiling for registered mutual funds' overseas investments and retaining a separate facility for a limited number of qualified mutual funds to invest in overseas Exchange Traded Funds under SEBI's operational guidelines. It reiterates that authorised dealer Category I banks must continue monthly reporting to the Reserve Bank, with modifications to include new investment categories, and that reports are to be submitted on or before the tenth of the following month; non submission will be viewed seriously.
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Overseas investment limits expanded for mutual funds; enhanced ceiling and continued reporting obligations to the central bank.
The circular liberalises overseas investment by mutual funds by raising the aggregate ceiling for registered mutual funds' overseas investments and retaining a separate facility for a limited number of qualified mutual funds to invest in overseas Exchange Traded Funds under SEBI's operational guidelines. It reiterates that authorised dealer Category I banks must continue monthly reporting to the Reserve Bank, with modifications to include new investment categories, and that reports are to be submitted on or before the tenth of the following month; non submission will be viewed seriously.
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