The Reserve Bank of India (RBI) has released a amending paragraphs 1(ix)(e) and 24(1) of the Foreign Exchange Management (Overseas Investment) Directions, 2022.
The amendment allows listed Indian companies and resident individuals to invest in units or other financial instruments issued by overseas investment funds, which come under the control of the financial sector regulator of the host jurisdiction.
Unlisted Indian entities can also invest in an investment fund or vehicle (as per schedule V of the rules) in an international financial service centre as an overseas portfolio investment.
