RBI/FED/2016-17/12 FED Master Direction No. 17/2016-17 January 1, 2016 (Updated as on March 01, 2024) (Updated as on November 21, 2022) (Updated as on May 31, 2022) (Updated as on January 06, 2022) (Updated as on December 07, 2021) (Updated as on October 28, 2020) (Updated as on January 27, 2020) (Updated as on April 01, 2019) (Updated as on February 02, 2018) (Updated as on January 12, 2017) (Updated as on October 20, 2016) (Updated as on March 31, 2016) (Updated as on February 04, 2016) To All Authorised Dealer Category - I banks and Authorised Banks Madam / Dear Sir, Master Direction - Import of Goods and Services Import of Goods and Services into India is being allowed in terms of Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R. 381(E) dated May 3, 2000 viz. Foreign Exchange Management (Current Account Transaction) Rules, 2000. These Regulations are amended from time to time to incorporate the changes in the regulatory framework and published through amendment notifications. 2. Within the contours of the Regulations, Reserve Bank of India also issues directions to Authorised Persons under Section 11 of the Foreign Exchange Management Act (FEMA), 1999. These directions lay down the modalities as to how the foreign exchange business has to be conducted by the Authorised Persons with their customers/constituents with a view to implementing the regulations framed. 

RBI/FED/2015-16/13 FED Master Direction No.18/2015-16 January 1, 2016 (Updated as on June 20, 2024*) (Updated as on May 12, 2023*) (Updated as on September 30, 2022*) (Updated as on August 22, 2022*) (Updated as on June 09, 2022*) (Updated as on June 08, 2021*) (Updated as on September 18, 2019*) (Updated as on July 10, 2019*) (Updated as on July 9, 2019*) (Updated as on April 4, 2019*) (Updated as on November 20, 2018*) (Updated as on August 01, 2018*) (Updated as on April 26, 2018*) (Updated as on April 12, 2018*) (Updated as on March 16, 2018*) (Updated as on February 02, 2018*) (Updated as on January 24, 2018*) (Updated as on December 20, 2017*) (Updated as on December 14, 2017*) (Updated as on May 15, 2017*) (Updated as on September 19, 2016*) (Updated as on July 07, 2016*) (Updated as on June 13, 2016*) (Updated as on May 24, 2016*) (Updated as on May 18, 2016*) (Updated as on May 5, 2016*) (Updated as on April 13, 2016*) (Updated as on March 23, 2016*) (Updated as on February 11, 2016*) To, All Authorised Persons Madam/ Sir, Master Direction – Reporting under Foreign Exchange Management Act, 1999 Foreign Exchange Management Act, 1999 (FEMA) is administered through the authorised persons and is based on the declarations and averments made to them by persons while undertaking the transactions.