The Reserve Bank of India has withdrawn a set of circulars issued under the Foreign Exchange Management Act, 1999 that it has identified as no longer operative. The move follows a review of circulars issued since June 1, 2000 as part of the central bank's ongoing effort to rationalise the FEMA regulatory framework, with the withdrawn items listed in an annex to the circular. The withdrawn circulars were deemed obsolete because of subsequent regulatory amendments, redundancy, overlap or supersession by newer directions. Authorised Persons have been asked to bring the circular to the attention of their constituents concerned. The directions were issued under Sections 10(4) and 11(1) of FEMA and are without prejudice to any permissions or approvals that may be required under other laws.
Reserve Bank of India2026-06-24
Reserve Bank of India withdraws inoperative FEMA circulars issued since June 2000 after regulatory review
The Reserve Bank of India has withdrawn FEMA circulars issued since June 1, 2000 that it found had ceased to operate. The circulars were withdrawn because they had been overtaken by later amendments, had become redundant, overlapped with other directions or had been superseded. Authorised Persons must notify their relevant constituents.