ARTICLE · 01 NOVEMBER 2007

Overseas Investments By Mutual Funds Liberalized

Mulla & Mulla & Craigie Blunt & Caroe

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The Reserve Bank of India (“RBI”) had on 8th May 2007 enhanced the ceiling on investments by Mutual Funds registered with the Securities and Exchange Board of India (“SEBI”) from the existent limit of USD 3 billion to USD 4 billion.

IndiaGovernment, Public Sector

Shardul Thacker

The Reserve Bank of India ("RBI") had on 8^th May 2007 enhanced the ceiling on investments by Mutual Funds registered with the Securities and Exchange Board of India ("SEBI") from the existent limit of USD 3 billion to USD 4 billion.

To enhance the prospects for overseas investments by SEBI registered mutual funds, RBI has by its circular dated 26^th September 2007 further increased the aggregate ceiling for overseas investment by SEBI registered Mutual Funds. Accordingly, SEBI registered Mutual Funds are now permitted to invest overseas subject to a cap of USD 5 billion as against the existing cap of USD 4 billion.

Presently, SEBI registered Mutual Funds are permitted to undertake invest in:

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