Mumbai: Indias capital markets regulator has ordered local mutual fund managers to stop accepting money in plans that invest in overseas exchange traded funds (ETFs) as a $1-billion cumulative sectoral limit for such investments is close to being breached. The Reserve Bank of India (RBI) regulates the fund inflows and outflows involving locally pooled investments in overseas financial assets. Currently, there is an overall industry level limit of $7 billion for investments into overseas mutual.