Response to RBI's Draft proposal to allow investment in overseas technology funds


Gausia Shaikh, Bhargavi Zaveri


This policy note is a response to the RBI draft framework for allowing Indian residents to invest in overseas technology funds with the prior approval of RBI. The response note discusses issues concerning (a) the regulatory policy underlying capital outflows; and (b) rule of law in the administration of the Indian framework governing capital controls. It makes recommendations on the changes required to the draft regulation to align it with the current thinking on capital outflows and ensure rule of law in its administration.

Citation: Response to RBI's Draft proposal to allow investment in overseas technology funds, Gausia Shaikh and Bhargavi Zaveri. FRG Policy Note, 2016-10-26 October 2016.

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