| Date: |
12-11-2002
|
| Notification No: |
RBI A P D (Series)Circular No 42/2002
|
| Issuing Authority: |
RBI
|
| Type: |
A.P.D.(Series) Circulars
|
| File No: |
|
| Subject: |
Investment in Overseas Markets
|
|
Investment in Overseas Markets
A.P. (DIR Series) Circular No. 42 dated 12th November 2002
Attention of authorised dealers is invited to Paragraph 2 of AP (DIR Series) Circular No. 38 dated November 2, 2002 on the above subject. We advise that credit ratings of securities for investment of un-deployed FCNR (B) funds may be amended to read as AA (-) by Standard and Poor/ FITCH IBCA as against AA mentioned therein.
2. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act 1999 (42 of 1999).
|
|
|