Reserve Bank of India has issued
FED Master Direction No. 18/2015-2016 dated 19th September, 2016.
These directions have been issued for Reporting under Foreign Exchange
Management Act, 1999.
Foreign Exchange Management Act,
1999 (FEMA) is administered through the authorised persons and is based on the
declarations and averments made to them by persons while undertaking the
transactions. The Reserve Bank, therefore, has prescribed various reports and
forms under FEMA to be submitted by/ through Authorised Persons/ Authorised
Dealer Category – I Banks/ Authorised Banks. Accurate compilations and timely
submission of these reports are of critical importance as they not only act as
a supervisory tool but also help in fine-tuning the policies relating to
foreign exchange transactions regulated under FEMA. The various reports/ forms
required to be submitted under FEMA are consolidated under this Master
Direction.
Find the master directions here.
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