The RBI has modified returns and reporting requirements under FEMA, 1999, addressing compliance provisions for Authorized Persons. This amendment aims to improve reporting measures and reflect current market practices.
Modifications to Returns/Reporting under FEMA, 1999
On June 24, 2026, the Reserve Bank of India issued modifications to the returns and reporting requirements for Authorized Persons under FEMA, 1999, as specified in A.P. (DIR Series) Circular No. 17. The modifications are part of the RBI's ongoing regulatory updates aimed at enhancing adherence to compliance protocols.
This includes updates to the Foreign Exchange Management (Authorised Persons) Regulations, which necessitate adjustments in the reporting structures of businesses dealing in foreign exchange. The revised guidelines encourage more streamlined processes and accountability.
Firms operating in foreign exchange will need to familiarize themselves with these changes, as compliance will require adjustments to reporting mechanisms to remain in accordance with the new regulations.
Citations
- A.P. (DIR Series) Circular No. 17, 2026