The Reserve Bank of India has conducted a review of circulars issued under the Foreign Exchange Management Act, 1999, aimed at rationalizing the regulatory framework. This update is significant for authorized persons dealing with foreign exchange regulations in India.
Review of Circulars under FEMA, 1999
On June 24, 2026, the Reserve Bank of India (RBI) issued a circular detailing the review of previous circulars under the Foreign Exchange Management Act, 1999 (FEMA). This initiative aims to streamline the regulatory framework for foreign exchange operations in India.
The review includes a comprehensive assessment of all circulars issued since June 1, 2000, as listed in the annex of the circular. The aim is to identify and eliminate circulars that are no longer operational or relevant.
Legal practitioners should note the RBI's ongoing commitment to regulating foreign exchange operations more effectively, which could have implications for compliance obligations faced by authorized persons in the financial sector.
Citations
- RBI Circular No. 18 (2026)
