RBI Expands Scope of Overseas Portfolio Investments to Include All Instruments Issued by Overseas Investment Funds

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By Taxmann
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Last Updated on 11 June, 2024

Circular No. RBI/2024-25/41 A.P. (DIR Series) Circular No. 09, Dated: 07.06.2024

The RBI has notified amendment in Paragraph 1(ix)(e) and Paragraph 24(1) of Foreign Exchange Management (Overseas Investment) Directions, 2022. As per the amended norms, the definition of Overseas Portfolio Investment (OPI) will also include investments in any other instruments (by whatever name called) issued by an investment fund overseas. Earlier, investment was only limited to ‘units’.

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