Notification/Circular No.: RBI/FED/2015-16/11; FED Master Direction No. 16/2015-16
Document Date: January 1, 2016 (Updated as on March 17, 2025)
Applicable Act/Rule: Foreign Exchange Management Act (FEMA), 1999
Applicable Section/Rule: Section 7, Section 10(4), and Section 11(1) of FEMA, 1999
The Reserve Bank of India (RBI) has released the updated version of the Master Direction on the Export of Goods and Services, reflecting the latest regulatory framework as of March 17, 2025. This comprehensive guideline outlines how Authorised Dealer Category – I banks must handle foreign exchange transactions related to exports. It incorporates changes made since its initial issuance on January 1, 2016, through periodic amendments.
The Master Direction consolidates key regulations under FEMA, 1999, specifically addressing the modalities for handling export-related foreign exchange business. It is supported by underlying circulars and notifications listed in the appendix. Additionally, reporting instructions are covered under a separate Master Direction (No. 18 dated January 1, 2016).
RBI continues to amend this document as required, issuing further guidance through A.P. (DIR Series) Circulars to ensure compliance with evolving regulatory norms. The aim is to maintain clarity and facilitate seamless export transactions while safeguarding regulatory interests.
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