Product Updates

RBI relaxes foreign investment norms for exchange-traded FX derivatives The Reserve Bank of India (RBI) relaxed rules for foreign investors in exchange-traded currency derivatives by increasing the trading limits allowed without an underlying exposure for the USD/INR pair to $15 million per exchange from $10 million earlier. The RBI also said that foreign portfolio investors can take long or short positions of up to $5 million in Euro/INR, GBP/INR, JPY/INR pairs in exchange traded derivatives. The central bank also permitted importers to hedge up to 100 percent of their eligible limit in the exchange-traded market compared with 50 percent earlier. Reuters Sent from BlackBerry® on Airtel

People invest at different points of time. Often it is seen that an investor makes a fresh investment in a fund without quoting an existing account/folio number with the same fund house. After some time, it gets difficult to monitor these investments held in different folios. An investor can ensure good housekeeping by opting for consolidation of his folios in a particular fund. This makes it easier to manage investments in mutual funds. Conditions for consolidation Investors can opt for consolidation of two or more folios if the following parameters are same across all the folios that are being consolidated: > Holding pattern > Mode of holding > Address > Tax status and nominee details Application The investor is required to submit a letter to the AMC/registrar stating all the folio numbers that are to be consolidated into one primary folio. Investors can also download a form for consolidation of folios available with the AMC or its registrar. Information ...