Saturday, August 9, 2008

Realty Mutual Funds bypass FDI norms: RBI

The Reserve Bank of India (RBI) has taken a note of the foreign investments coming through Real Estate Mutual Funds (REMFs).
The bank has sent a letter to the union finance ministry pointing out that REMFs allow foreign institutions to invest and thus lead to indirect FDI in the real estate sector.
Realty Mutual Funds bypass FDI norms: RBI

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