Notification/Circular No. – RBI/FED/2015-16/11 FED Master Direction No. 16/2015-16 dated August 5, 2025
The Reserve Bank of India (RBI) has issued a consolidated Master Direction on the export of goods and services from India, covering the legal framework, regulatory provisions, and operational guidelines. Export from India is governed under Section 7 of FEMA, 1999, read with relevant notifications, which are periodically amended through official notifications to incorporate regulatory changes.
Within this framework, the RBI issues directions to Authorised Persons (APs) under Sections 10(4) and 11(1) of FEMA, 1999, detailing the modalities for conducting foreign exchange transactions with customers. The Master Direction consolidates all such instructions, with the list of underlying circulars/notifications provided in the Appendix. Reporting instructions related to exports are covered under the RBI Master Direction on Reporting (Master Direction No. 18 dated January 01, 2016).
The RBI may issue further directions to APs through A.P. (DIR Series) Circulars as and when required, reflecting changes in regulations or operational procedures. The Master Direction will be amended simultaneously to incorporate such changes. This Master Direction is issued under Sections 10(4) and 11(1) of FEMA, 1999, without prejudice to any permissions/approvals required under other applicable laws.
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