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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Indian rupee fall: Govt may ease rules for sovereign wealth funds

Posted on 21 June 2013

India’s finance ministry, the central bank and market regulators discussed loosening rules for investment by foreign sovereign wealth funds in response to a sharply falling rupee and a wide current account deficit that are hurting the economy. Two senior ministry officials, who declined to be named, said the aim was to attract more capital flows from wealth funds in Middle East countries. Finance Minister P Chidambaram has visited the Middle East in recent months to drum up investment.
“We will again meet and it will take some more time to finalize measures on sovereign funds,” said one official who attended the meeting………………………………………..Full Article: Source


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