Currently, Mutual funds are allowed to make overseas investments up to USD 1 billion per mutual fund, with an overall industry limit of USD 7 billion as capped by RBI. As the overall industry limit of USD 7 billion is about to exhaust. Association of Mutual Funds in India (AMFI) direct its member to stop further investments in foreign stocks, following the SEBI’s directive. AMFI has written to the RBI to raise the limit. We can expect that RBI may enhance the limits soon.Currently, Mutual funds are allowed to make overseas investments up to USD 1 billion per mutual fund, with an overall industry limit of USD 7 billion as capped by RBI. As the overall industry limit of USD 7 billion is about to exhaust. Association of Mutual Funds in India (AMFI) direct its member to stop further investments in foreign stocks, following the SEBI’s directive. AMFI has written to the RBI to raise the limit. We can expect that RBI may enhance the limits soon.taxmann.com NewsRead More
