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Reserve Bank of India (RBI) expanded scope of Overseas Portfolio Investments (OPI)
The scope of OPI has been expanded transcending the erstwhile constraints which restricted investment in “units” of overseas investment funds.
The RBI has permitted the residents (entities and individuals) to invest in all types of instruments issued by overseas investment funds or vehicles, whether established within an International Financial Services Centre (IFSC) or elsewhere.
Further, such overseas investment funds would include funds regulated by the financial sector regulator, directly or through a fund manager.
Source: A.P. (DIR Series) Circular No. 9 dated 7 June 2024