New Delhi : Seeking to assuage foreign investors, the government said Tuesday there were no changes in the April 10 Sebi circular and overseas Indians would continue to be allowed to invest up to 5 per cent in any security under current regulations.

Economic Affairs Secretary S C Garg asserted that capital markets regulator Sebi extended the deadline of the circular until December and wondered that why there was much ado about the proposed guidelines. Sebi also said that it was “preposterous and highly irresponsible” to claim that $75 billion will move out of India because of the April 10 regulatory move. Stock markets fell for the fifth straight session Tuesday on sustained capital outflows by foreign funds.

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