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Nov 26, 2014
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RBI warns firms on routing overseas funds to India operations
The Reserve Bank of India (RBI) on Tuesday clamped down on Indian firms raising funds overseas and routing them to India through certain types of structures. In a notification, RBI noted that some Indian firms access overseas markets for debt funds through overseas subsidiaries and associates and later route those funds back to their Indian operations. One of the ways this has been done is through investment in rupee bonds floated by the Indian company.
Source -
http://www.livemint.com
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