RBI/FED/2024-25/121 FED Master Direction No.15/2024-25 July 24, 2024 To All Authorised Dealer Category – I banks Madam/Sir Master Direction - Overseas Investment Overseas Investments by persons resident in India are governed by the provisions of Foreign Exchange Management (Overseas Investment) Rules, 2022 (OI Rules) notified by the Central Government vide Notification No. G.S.R. 646(E) dated August 22, 2022 and Foreign Exchange Management (Overseas Investment) Regulations, 2022 (OI Regulations) notified by the Reserve Bank vide Notification No. FEMA 400/2022-RB dated August 22, 2022.