Investment by Mutual Funds in Overseas Securities - Liberalisation

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....ation 6C and Regulation 26 of Notification No.FEMA.120/RB-2004 dated 7 July 2004 , as amended, from time to time, AP (Dir Series) Circular No. 97 dated April 29, 2003 and AP.(DIR Series) Circular No. 3 dated July 26, 2006 . 2. Presently, Mutual Funds, registered with SEBI, are permitted to invest in ADRs/GDRs of Indian companies, rated debt instruments and also in the equity of overseas companie....

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....2004 will be issued separately. 5. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers. 6. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. RBI....