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Modifications to Returns Under FEMA Announced
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Reserve Bank of Indiacorporatebanking

Modifications to Returns Under FEMA Announced

July 9, 2026

The RBI has modified returns and reporting requirements under FEMA to enhance operational efficiency for Authorized Persons.

Modification of Returns / Reporting Requirements under FEMA, 1999

The Reserve Bank of India (RBI) has issued A.P. (DIR Series) Circular No. 17 on June 24, 2026, addressing modifications to returns and reporting requirements under the Foreign Exchange Management Act, 1999 (FEMA). This amendment is aimed at improving the operational framework for Authorized Persons dealing with foreign exchange.

These modifications emphasize the need for adherence to updated provisions contained in the Master Directions on money changing activities and money transfer services. The RBI has taken steps to revamp the existing reporting structure, thereby streamlining processes for more effective compliance and reporting.

Practitioners should focus on the implications of these modifications for their clients’ reporting obligations, ensuring that they align with the latest regulatory requirements to avoid potential compliance issues.

Citations

  • Modification of Returns / Reporting Requirements under FEMA, 1999
Practice Areas:corporatebanking

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