Act Name/Rule Name: Reserve Bank on India Act, 1934
Type of Document: Master Direction
Date: January 16, 2025
Circular No./Notification No.: RBI/FED/2015-16/11, FED Master Direction No. 16/2015-16
The Reserve Bank of India (RBI) oversees the export of goods and services under Section 7 of FEMA, 1999, and associated notifications, including G.S.R. 381(E) dated May 3, 2000, and FEMA Notification No. 23(R)/2015-RB dated January 12, 2016. These regulations are periodically revised to reflect changes in the regulatory framework.
The updated Master Direction consolidates all amendments up to January 16, 2025. It provides guidelines for Authorized Dealer Category – I banks regarding export transactions, compliance with FEMA, and updates on procedures and requirements for exporters. The document ensures that regulatory changes are incorporated and available in a consolidated format to facilitate ease of compliance.
The updated Master Direction enhances clarity and ensures adherence to the latest regulatory standards by stakeholders involved in the export of goods and services. It aligns operational practices with current foreign exchange management requirements, thereby promoting regulatory compliance and operational efficiency.
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