Overseas investment limits expanded, increasing permissible financial commitment and recognising full value of guarantees under amended FEMA rules. The amendments expand permitted overseas investment exposure by increasing the total financial commitment ceilings for Indian parties, distinguishing higher limits for corporates and lower limits for registered partnership firms, and by recognising one hundred per cent of guarantees when calculating commitment. They define Venture Capital Fund, permit specified proprietorship exporters to form overseas ventures subject to Schedule II criteria and prior approval, and modify ESOP rules to allow acceptance, transfer and repurchase of foreign company shares with annual reporting and repatriation requirements.