10C.9A
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Investment in Money Market Mutual Funds (MMMFs)
NRIs/OCBs will be permitted to invest, on non-repatriation basis, in Money Market Mutual Funds (MMMFs) floated by commercial banks and public sector/private sector financial institutions, with authorisation from Reserve Bank of India/Securities and Exchange Board of India (SEBI). Applications for the purpose should be made to the Reserve Bank in form ISD(R) by the concerned bank/institution. The NRI/OCB investors do not need separate permission from Reserve Bank for the purpose.