Bizbits

Overseas investment limit up

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.