Similarly, the aggregate ceiling for overseas investment by mutual funds, registered with SEBI, was enhanced from $ 4 billion to $ 5 billion in September 2007. This was further raised to $ 7 billion in April 2008.
•  Develop a financial sector that reflect the economic structures of the country and avoid temptations of one size fits all. Most SSA are characterized by formal and informal finance. The process of formalization requires understanding of the economic structures.