RBI Rationalises Forex Outflows
  • Saba Ashraf
  • Aug 14 2013

August 14: The RBI today announced several steps to moderate forex outflows. It has tightened cos’ overseas investment limits and cut cos’ foreign investment to 100% of net worth versus the current 400%. Individuals can no longer use forex to buy realty abroad, although genuine forex needs will be considered under the approval route. Bloomberg TV India asks J. Moses Harding, ED & Chief Business Officer, Lakshmi Vilas Bank, about the latest measures and the implications on the economy.