--News-- Govt may ease norms for sovereign wealth funds The - TopicsExpress



          

--News-- Govt may ease norms for sovereign wealth funds The finance ministry on Monday held a meeting to discuss sovereign wealth funds in India and to ease norms for further investments by such funds, including creating a separate window for them. The aim is to attract inflows to strengthen the rupee, fund a bloated current account deficit and pour in financing into the infrastructure sector. The meeting on such funds, which are investment vehicles for governments, was chaired by economic affairs secretary Arvind Mayaram and was attended by officials from the ministry, RBI, and Sebi. It follows the recent discussions the government has had with long-term funds such as including overseas government pension funds to find out the problems that they have regarding investing in India. It is estimated that globally, SWFs have funds of around $20 trillion. “Even if we can direct just 1% of that into India, it will have a big impact on inflows and solve some financing issues,” an official in the finance ministry said.
Posted on: Tue, 11 Jun 2013 12:36:24 +0000

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