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Enhancement for Overseas Investments by Mutual Funds



Enhancement for Overseas Investments by Mutual Funds

 

SEBI/IMD/CIR No.2/122577/08

 

 

 Please refer to clause 1 (a) of SEBI Circular SEBI/IMD/CIR No.7/104753/08

dated September 26, 2007 pertaining to overseas investments by mutual

funds.

 

 In consultation with Govt. of India and RBI, it has now been decided to

enhance the aggregate ceiling for overseas investment to US$7 bn.

 

 All other conditions specified in the above mentioned circular remain

unchanged.

 

 These guidelines are issued in exercise of powers conferred under Section

11(1) of the Securities and Exchange Board of India Act, 1992 read with the

provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996.

 

 

Garima
on 11 April 2008
Published in Others
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