Informist, Wednesday, Feb 8, 2023
MUMBAI – Reserve Bank of India Governor Shaktikanta Das said today that no proposal has been made for increasing the overseas limit for mutual funds as of now.
In June 2021, the Securities and Exchange Board of India had set an overall industry-level limit of $7 bln for mutual funds to invest in overseas securities and funds, and a separate limit of $1 bln for investment in overseas exchange-traded funds.
"Mutual funds and some of the market players have approached the RBI, and we have examined their requests, and as of now, we have not taken any positive decision on it… if we take a decision then we will inform. But as of now, no proposal has been made to increase the overseas limit," Das said while delivering the monetary policy statement.
Deputy Governor T. Rabi Sankar said the issue of increasing the overseas limit was discussed a year ago and the decision was made to keep it unchanged at that time. End
US$1 = 82.60 rupees
Reported by Kshipra Petkar
Edited by Namrata Rao
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