The Reserve Bank of India (RBI) on February 18, 2026, updated the Master Direction – Reporting under Foreign Exchange Management Act, 1999.
Under the Foreign Exchange Management Act, 1999 (FEMA), foreign exchange transactions are regulated through authorised persons based on the declarations provided by individuals and businesses. To supervise these transactions effectively, the Reserve Bank of India requires various reports and forms to be submitted through Authorised Persons, Authorised Dealer Category–I Banks, and Authorised Banks. Accurate and timely reporting is essential because it supports regulatory oversight and helps shape foreign exchange policy.
All reporting requirements under FEMA are compiled in a single Master Direction issued by the Reserve Bank. This document serves as a consolidated reference for compliance and is updated periodically whenever new instructions or changes are introduced.
* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.
[Notification No. RBI/FED/2015-16/13 FED Master Direction No.18/2015-16]
