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Reporting under FEMA 1999
Notification No: RBI/FED/2015-16/13 FED Master Direction No.18/2015-16 dated September 16, 2024
Applicable Act/Rule: Foreign Exchange Management Act, 1999
On September 16, 2024, the RBI updated the Master Direction on Reporting under FEMA 1999, which applies to all Authorized Persons and outlines the various reports and forms that must be submitted under FEMA.
1. 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. The Reserve Bank, therefore, has prescribed various reports and forms under FEMA to be submitted by/ through Authorised Persons/ Authorised Dealer Category – I Banks/ Authorised Banks. Accurate compilations and timely submission of these reports are of critical importance as they not only act as a supervisory tool but also help in fine-tuning the policies relating to foreign exchange transactions regulated under FEMA.
2. The various reports/ forms required to be submitted under FEMA are consolidated under this Master Direction.
3. The Master Direction will be updated from time to time as and when fresh instructions are issued.
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