RBI/2024-25/49 A.P. (DIR Series) Circular No. 15 July 10, 2024 To, All Authorised Persons Madam / Sir, Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS)

RBI/2024-2025/48 July 08, 2024 A.P. (DIR Series) Circular No. 14 All Category – I Authorised Dealer Banks Madam/Sir Export-Import Bank of India’s GOI-supported Line of Credit of USD 2.50 mn to the Government of Co-operative Republic of Guyana, for installation of Solar Photo Voltaic Power Plant at Cheddi Jagan International Airport Export-Import Bank of India (Exim Bank) has entered into an agreement dated February 29, 2024 with the Government of the Co-operative Republic of Guyana (GO-GUY), for making available to the latter, Government of India supported Line of Credit (LoC) of USD 2.50 mn (USD Two Million Five Hundred Thousand Only) for installation of Solar Photo Voltaic Power Plant at Cheddi Jagan International Airport in Guyana.

RBI/2024-25/47 A.P. (DIR Series) Circular No. 13 July 03, 2024 To, All Authorised Dealers in Foreign Exchange Madam / Dear Sir, Release of foreign exchange for Miscellaneous Remittances In terms of the direction issued under the A.P.(DIR Series) Circular No. 16 dated September 12, 2002, A.P.(DIR Series) Circular No. 55 dated December 23, 2003 and A. P. (DIR Series) Circular No.118 dated May 07, 2012, Authorised Dealers are permitted to release foreign exchange for any current account transaction, on the basis of a simple letter containing basic information and subject to an upper limit of USD 25,000 or its equivalent. It was also advised that Authorised Dealers need not obtain any other documents, including Form A2, and that the payment was to be made by the applicant through Demand Draft or a cheque drawn on his / her bank account.

RBI/2024-25/46 A.P. (DIR Series) Circular No. 12 July 03, 2024 To All Authorised Dealers in Foreign Exchange Madam / Dear Sir Online submission of Form A2: Removal of limits on amount of remittance Attention of Authorised Dealer (AD) Category-I banks and AD Category-II entities is invited to paragraph 4 of A.P. (DIR Series) Circular No. 50 dated February 11, 2016 (Compilation of R-Returns: Reporting under FETERS) and A.P. (DIR Series) Circular No. 02 dated April 12, 2023 (Authorised Dealers Category-II – Online Submission of Form A2), wherein AD Category-I banks and AD Category-II entities were permitted to allow submission of Form A2 through online mode by their customers, subject to certain conditions and limits.

RBI/2024-2025/43 FED Circular No. 11 June 11, 2024 All Scheduled Commercial Banks (holding AD Category-I license) Madam/Sir International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for settlement of trade transactions Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to FED Circular No. 08 dated November 17, 2023, in terms of which, AD Category-I banks maintaining Special Rupee Vostro Account vide A.P. (DIR Series) Circular No.10 dated July 11, 2022 on International Trade Settlement in Indian Rupees (INR) were permitted to open an additional special current account for its constituents, exclusively for settlement of export transactions. 

RBI/2024-2025/42 June 11, 2024 A.P. (DIR Series) Circular No. 10 All Category – I Authorised Dealer Banks Madam/ Sir Export-Import Bank of India (Exim Bank)’s Government of India -supported Line of Credit of USD 23.37 mn to the Government of the Co-operative Republic of Guyana (GO-GUY), for procurement of two Hindustan 228-201 aircraft from Hindustan Aeronautics Ltd.

RBI/2024-25/41 A.P. (DIR Series) Circular No. 09 June 07, 2024 To All Category-I Authorised Dealer Banks Madam/ Sir Foreign Exchange Management (Overseas Investment) Directions, 2022 - Investments in Overseas Funds Attention of Category-I Authorised Dealer Banks is invited to Paragraph 1(ix)(e) of Foreign Exchange Management (Overseas Investment) Directions, 2022, issued vide A.P. (DIR Series) Circular No.12 dated August 22, 2022, in terms of which, investment (including sponsor contribution) in units of any investment fund overseas, duly regulated by the regulator for the financial sector in the host jurisdiction, shall be considered as Overseas Portfolio Investment. Further, as per the provisions of Paragraph 1(ix)(e) and Paragraph 24(1) of FEM (OI) Directions, 2022, investments can be made in “units” of investment funds.

RBI/2024-25/39
A.P. (DIR Series) Circular No. 08 May 27, 2024 To
All Authorised Persons in Foreign Exchange Madam/ Sir Instructions on Money Changing Activities Attention is invited to FED Master Direction No.3 / 2015-16 dated January 01, 2016 (updated from time to time) on Money Changing Activities. 2. In terms of extant instructions, Full Fledged Money Changers (FFMCs)/non-bank Authorised Dealers (ADs) Category-II may obtain their normal business requirements of foreign currency notes from other FFMCs and Authorised Dealers (ADs) in India. Further, they are also required to keep balances in foreign currencies at reasonable levels to avoid build-up of idle balances.

RBI/2024-25/36 A.P. (DIR Series) Circular No. 7 May 21, 2024 To All Authorised Dealer Category – I banks Madam / Sir Issuance of partly paid units to persons resident outside India by investment vehicles under Foreign Exchange Management (Non-debt Instruments) Rules, 2019 Attention of Authorised Dealer (AD) Category - I banks is invited to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, notified by the Central Government on October 17, 2019, which have been amended through the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2024 videS.O. 1361(E), dated March 14, 2024, enabling issuance of partly paid units to persons resident outside India by investment vehicles.

RESERVE BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
CENTRAL OFFICE
MUMBAI 400 001

Notification No. FEMA 5(R)/(4)/2024-RB

May 06, 2024

In exercise of the powers conferred by sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Deposit) Regulations, 2016 (Notification No. FEMA 5 (R)/2016-RB dated April 01, 2016) (hereinafter referred to as 'the Principal Regulations'), namely:-