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RBI Liberalizes Overseas Investment
Mumbai,Sept.30,
20007
:
In
a
bid
to
offset
the
tide
of
foreign
exchange
inflows
pouring
into
India
which
have
sharply
strengthened
the
rupee
versus
the
US
dollar,
the
reserve
bank
of
India
has
announced
a
series
of
measures
that
will
make
it
easier
for
companies,
mutual
funds
and
individuals
to
invest
overseas.
Among the measures announced, the overseas investment ceiling for mutual funds has been raised to 5 billion dollars from 4 billion dollars.
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Story first published: Monday, October 1, 2007, 18:59 [IST]
