NEW DELHI: Government has increased investment limit for Indian companies abroad from $ 4 million to $ 15 million. The enhancement in the investment limit through the fast track route has been provided to facilitate overseas investment in joint ventures and wholly-owned subsidiaries. However, the special consideration for investment in SAARC countries would continue.

Canpremium to pay 6.5% interim

MUMBAI: Canbank Mutual Fund has declared an interim income distribution of 6.50 per cent per unit, on the units of the open ended Canpremium scheme. The register of the unit holders would remain closed from November 9 to 14 (both days inclusive) and sale and repurchase suspended during the period, a Canbank Investment Management Services press release said here.

NSE launches 14-day Mibid

MUMBAI: The committee for the development of debt market, set up by the NSE, has decided to develop a benchmark for the term money market beginning with the launch of the14-day Mibid/Mibor rates from November 10. The committee took a decision to develop a term money rate, the absence of which has so far inihibited the development of new and innovative instruments in the fixed income market. "This rate would help in developing a term money market," an NSE statement here said.