Templeton Asset Management managing director Mark Mobius feels that emerging markets are equipped to deal with the global crises. Moreover, the fundamentals of emerging markets equities are much stronger today than they were previously and thus are better equipped to withstand these outflows.

India is not among his favourites for now, as he feels it is expensive relative to other markets, which offer better value.

Emerging markets better equipped to deal with volatility
In a paper shared exclusively with ET, he explains his views on issues that are today worrying investors. His views on subprime issue, yen carry trade & his favourite emerging markets.
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Source: The Economic Times

Subprime mess is not a global crisis: S&P
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Source: The Economic Times

Investment Guru Marc Faber feels that the current subprime issue is more serious than is currently evident. According to him, the outlook of liquidity in emerging stock markets is not favorable.

On the other side, Ace investor Rakesh Jhunjhunwala feels that Indian markets will be less affected than the global markets including Asian markets. He is still bullish on the Indian markets and sees Sensex touching 25,000 level by 2012.

A lot of EMs are over extended: Marc Faber
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Source: Moneycontrol.com

Do you see Sensex touching 25K by 2012? Jhunjhunwala does
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Source: Moneycontrol.com

As per the Liberalised Remittance Scheme (LRS) announced by Reserve Bank of India (RBI), resident individuals may remit up to USD 100,000 per financial year for any permitted capital and current account transactions.

RBI has clarified on various operational issues of the scheme, which was originally announced in February, 2004.

The salient features of the scheme are:

1) The facility under the Scheme is in addition to those already available for private travel, business travel, studies, medical treatment, etc. The Scheme can be also be used for these purposes. However, gift and donation remittances cannot be made separately and have to be made under the Scheme only.

2) Resident individuals can acquire and hold immovable property or shares or debt instruments or any other assets outside India, without prior approval of the Reserve Bank.

3) Individuals can also open, maintain and hold foreign currency accounts with banks outside India. However, it was clarified that remittance from India for margins or margin calls to overseas exchanges / overseas counterparty are not allowed under the Scheme.

4) The investor can retain and reinvest the income earned on investments made under the Scheme.

5) The facility is available to all the resident individuals including minors.

6) The Scheme can also be used for remittance of funds for acquisition of ESOPs.

7) A resident individual can invest in units of Mutual Funds, Venture Funds, unrated debt securities, promissory notes, etc under this Scheme.

8) An individual, who has availed of a loan abroad while a non-resident can repay the same on return to India under this Scheme as a resident.

It is mandatory to have PAN number to make remittances under the Scheme. The remittance facility under the Scheme is not available for remittance for any purpose specifically prohibited by RBI.

Frequently Asked Questions under the Liberalized Remittance Scheme – Reserve Bank’s Response
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Source: Reserve Bank of India

Deposit up to 100k dollars in banks abroad
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Source: The Economic Times of India