New Delhi, June 28 -- The Association of Mutual Funds in India (AMFI) is set to renew its demand for raising the overseas investment limit for mutual funds, arguing that the decade-old cap has become a constraint for investors seeking global diversification, according to a report by Business Today.

AMFI chief executive Venkat Chalasani told Business Today that the industry would once again approach the Reserve Bank of India (RBI), the government and the Securities and Exchange Board of India (Sebi) after the ongoing FCNR(B) deposit mobilisation window concludes.

"We are taking it up on a regular basis with the RBI, Government of India and Sebi, requesting them that this particular cap needs to be increased to enable investors to diversi...