The Reserve Bank of India (RBI) on January 16, 2025, issued an update in the Master Direction – Export of Goods and Services.
The following has been stated: -
•The export of goods and services from India is regulated by the Foreign Exchange Management Act (FEMA), 1999, and relevant notifications, including FEMA Notification No. 23(R)/2015-RB. The Reserve Bank of India issues directions to Authorised Persons to implement these regulations.
•The Master Direction consolidates instructions on export transactions, and updates may be issued via A.P. (DIR Series) Circulars. These directions are subject to other legal permissions or approvals as required.
The detailed notification is given in the document below.
[Notification No. RBI/FED/2015-16/11 FED Master Direction No. 16/2015-16]
