**Summary:**
This circular, A.P. DIR Series Circular No. 18, issued by the Reserve Bank of India (RBI) on November 16, 2021, announces the withdrawal of A.P. DIR Series Circular No. 6, dated July 16, 2015, concerning Foreign Investment in India by Foreign Portfolio Investors. This action is taken as part of the implementation of the interim recommendations of the Regulations Review Authority (RRA 2.0), which was established on April 15, 2021. The directives within this circular are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and do not override any permissions or approvals required under other applicable laws. The withdrawal is effective immediately. For further information, contact Dimple Bhandia, Chief General Manager, Financial Markets Regulation Department, Central Office Building, 9th Floor, Shahid Bhagat Singh Marg, Fort, Mumbai – 400001, India. Tel: 91-22-2260 1000, Fax: 91-22-2270 2290, email: cgmfmrdrbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Regulations Review Authority RRA 2.0: An authority set up to review regulations within the Reserve Bank of India.
Authorised Dealer Category-I: A category of banks authorized to deal in foreign exchange.
Foreign Exchange Management Act, 1999: An act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
A.P. DIR Series Circular No.18: A circular series issued by the Reserve Bank of India's Department of External Investments and Operations.
Foreign Portfolio Investors: Investors that invest in financial assets from a country into another.
A.P. DIR Series Circular No.6: A circular series issued by the Reserve Bank of India's Department of External Investments and Operations.
Mumbai, Maharashtra: The location of the Financial Markets Regulation Department, Central Office Building of Reserve Bank of India.
भारतीय �रज़वर् ब�क
RESERVE BANK OF INDIA
www.rbi.org.in
RBI/2021-22/130
A.P. (DIR Series) Circular No.18 November 16, 2021
To
All Authorised Persons
Madam / Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Withdrawal of
Circular
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the announcement
on setting up of a new Regulations Review Authority (RRA 2.0), vide press release dated April
15, 2021 and the publication of the interim recommendations of the RRA 2.0, vide press release
dated November 16, 2021.
2. As part of the implementation of the interim recommendations of the RRA 2.0, the A.P. (DIR
Series) Circular No.6 dated July 16, 2015 on Foreign Investment in India by Foreign Portfolio
Investors is withdrawn with immediate effect.
3. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of
the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to
permissions/ approvals, if any, required under any other law.
Yours faithfully
(Dimple Bhandia)
Chief General Manager
िव�ीय बाज़ार िविनयमन िवभाग,क��ीय कायार्लय भवन, नौव� मंिजल, शहीद भगत �सहं माग,र् फोटर् ,मुंबई400001–.भारत
फोन: ((22-91 2260 1000,फैक्स(22-91) : 22702290 ई :मेल-cgmfmrd@rbi.org.in
Financial Markets Regulation Department, Central Office Building, 9th Floor, Shahid Bhagat Singh Marg, Fort, Mumbai – 400001. India
Tel: (91-22) 2260 1000, Fax: (91-22) 22702290 e-mail- cgmfmrd@rbi.org.in
िहन्दी आसान ह,ै इसका �योग बढ़ाइए