The Reserve Bank of India has undertaken a review of circulars issued under the Foreign Exchange Management Act, 1999. This review aims to streamline and update regulatory measures affecting authorised persons.
Review of FEMA Circulars
In a regulatory move on June 24, 2026, the Reserve Bank of India (RBI) initiated a review of various circulars issued under the Foreign Exchange Management Act, 1999 (FEMA) since June 2000. As part of its endeavour to rationalise the regulatory framework, this review seeks to identify, update, or rescind obsolete circulars.
The review process emphasizes the RBI's commitment to simplifying compliance burdens on authorised persons, fostering an efficient operational environment in the foreign exchange market. The review aims to enhance transparency, reduce ambiguity, and facilitate ease of doing business for stakeholders involved in foreign exchange transactions.
Legal practitioners and financial advisors should monitor developments related to this review, as amendments or repeals could significantly impact compliance requirements and operational protocols for foreign exchange operations.
Citations
- Review of Circulars under FEMA, 1999 (2026) RBI/2026-27/175
