Date:17/11/2006 URL: http://www.thehindubusinessline.com/2006/11/17/stories/2006111705151400.htm

Back Mutual funds overseas limit raised to $3 b

Our Bureau

Mumbai , Nov. 16

Mutual funds can now invest overseas up to $3 billion from $2 billion with immediate effect.

All other terms and conditions and operational guidelines as issued by the Securities and Exchange Board of India will remain unchanged, said a RBI notification.

The central bank had earlier announced the higher limit for MFs' overseas investments in the last credit policy.