Issue of Units of Mutual Funds

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Full Text of the Document

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....present, Indian Asset Management Companies (AMCs) which launch off-shore funds abroad have to obtain SEBI's approval for such schemes. They are also required to obtain RBI's prior approval for issue of units, remittance of dividend and redemption of units to the overseas investors in such funds. In order to provide single window clearance, it has been decided that AMCs may issue units, remit divid....