MUMBAI: Redemption from India-focussed offshore funds by foreign investors in May was the highest monthly outflow in a year as hazy economic prospects amid the falling rupee and slow policy decisions prompted them to pull out of India.
Rating agency Standard & Poor's move to cut India's sovereign outlook to 'Negative' from 'Stable' in the last week of April hastened investor withdrawals worth $370 million from these funds in May, after pulling out $334 million in April. Full story
Related:
Temasek Expands India Operations - The Economic Times
