Bundles of banknotes sit inside a container at the Professional Foreign Currency Exchange Ltd. (PFCE) store in Hong Kong, China. (Photographer: Anthony Kwan/Bloomberg)
The government issued a clarification on the amendments it introduced to the Foreign Exchange Management Act.
This after the mutual funds industry sought clarity about the classification of foreign-owned domestic mutual funds as investment vehicles under the amended act.
Watch BloombergQuint's Payaswini Upadhyay explain the revised rules in detail.
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