Back

RBI Policy: No proposal on raising overseas limit for MFs yet

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

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2023. All rights reserved.

Other News.

INTERVIEW: Nomura Sribalasundaram says India gilts not a top pick

Informist, Monday, Dec 4, 2023 –Nomura Sribalasundaram: India gilts certainly not a top pick for us–CONTEXT:Nomura rates strategist Sribalasundaram remarks in interview–Prefer Indonesia, Korea bonds over India–India 5-yr bond, swap spread not too exciting–Gilts may outperform OIS, tighten spreads–1-yr OIS shows liquidity ease, not rate cut–See MPC cutting rates in Aug, before FOMC–See RBI cutting repo rate by 100 bps FY25–Expect clarity on […]

IIFL Samasta MD says plan to raise 140-150 bln rupees via debt FY25

Informist, Monday, Dec 4, 2023 –IIFL Samasta Fin MD: Sees 30% growth in loans FY25 –IIFL Samasta Fin plans to raise up to 50 bln rupees via debt Oct-Mar –IIFL Samasta Fin plans to raise up to 140-150 bln rupees via debt FY25 –IIFL Samasta plans to raise 10-15 bln rupees via overseas loan FY25  By Asmita Patil MUMBAI – IIFL […]

India Sugar: Down in north on selling pressure; flat in Maharashtra

Informist, Monday, Dec 4, 2023  By Taniva Singha Roy  MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh fell today due to selling pressure on mills and subdued demand. Prices in Maharashtra were flat due to lack of fresh triggers, said traders. Mills in Uttar Pradesh reduced prices by 10–20 rupees per 100 kg due to less buying and […]