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Reserve Bank of India relaxed overseas investments

reserve-bank-of-india.jpgThe Reserve Bank of India has increased the cap on overseas investment by Indian mutual funds by 25 percent to US$5 billion (euro3.5 billion) and allowed local companies to invest up to 400 % of net worth abroad as against 300 % previously.

Also, Reserve Bank doubled the amount that individuals can send abroad each year to US$200,000 (euro142,000).

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