The Reserve Bank of India (RBI) on August 22, 2022 has re-issued Master Direction on Reporting under Foreign Exchange Management Act, 1999.
The following has been stated namely: -
• 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.
• Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience. The changes are listed at the end of Master Direction in any case.
[Notification No. RBI/FED/2015-16/13]
