Overseas Investment by Mutual Funds - Liberalisation
As announced in the Annual Policy Statement for the year 2007-08 (para 135), with a view to providing greater opportunity for investment overseas, the aggregate ceiling for overseas investment by Mutual Funds registered with SEBI, has been increased from USD 3 billion to USD 4 billion with immediate effect. The investments would be subject to the terms and conditions and operational guidelines as issued by SEBI.
CIRCULAR NO. 53/RBI., Dated: May 8, 2007