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With the transition to a market-based system for determining the external value of the Indian rupee the foreign exchange market in India gained importance in the early reform period.

Master Directions

Aug 22, 2022
Foreign Exchange Management (Overseas Investment) Directions, 2022 (dated August 22, 2022) (Supersedes Master Direction – Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad (Updated as on June 24, 2021))PDF document 406 kb
Mar 26, 2019
Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations (Updated as on December 22, 2023) (Supersedes Master Direction - External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers (Updated as on November 22, 2018))PDF document 437 kb
Jan 04, 2018
Master Direction – Foreign Investment in India (Updated up to March 17, 2022)PDF document 411 kb
Feb 23, 2017
Master Direction – Money Transfer Service Scheme (MTSS) (Updated as on February 29, 2024)PDF document 269 kb
Nov 17, 2016
Master Direction - Insurance (Updated as on December 07, 2021)PDF document 146 kb
Jan 04, 2016
Master Direction - Establishment of Branch Office (BO)/ Liaison Office (LO)/ Project Office (PO) or any other place of business in India by foreign entities (Updated as on May 18, 2021)PDF document 317 kb
Master Direction – Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses (Updated as on December 22, 2022)PDF document 221 kb
Master Direction - Miscellaneous (Updated as on November 12, 2018)PDF document 190 kb
Master Direction – Reporting under Foreign Exchange Management Act, 1999 (Updated as on May 12, 2023)PDF document 1472 kb
Master Direction – Import of Goods and Services (Updated as on November 21, 2022)PDF document 814 kb
Master Direction - Deposits and Accounts (Updated as on January 9, 2020)PDF document 553 kb
Master Direction - Remittance of Assets (Updated as on April 28, 2016)PDF document 287 kb
Master Direction – Acquisition or Transfer of Immovable Property under Foreign Exchange Management Act, 1999 (Updated as on September 01, 2022)PDF document 269 kb
Master Direction - Other Remittance Facilities (Updated as on April 03, 2024)PDF document 479 kb
Master Direction - Liberalised Remittance Scheme (LRS) (Updated as on December 22, 2023)PDF document 618 kb
Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian OriginPDF document 140 kb
Master Direction- Compounding of Contraventions under FEMA, 1999 (Updated as on May 24, 2022)PDF document 245 kb
Master Direction – Export of Goods and Services (Updated as on November 22, 2022)PDF document 379 kb
Master Direction - Money Changing Activities (Updated as on February 29, 2024)PDF document 481 kb