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of <h1>RBI Simplifies Reporting for Indian Investments Abroad; New Form ODR Required for All Transactions Under FEMA 1999.</h1> The Reserve Bank of India (RBI) has streamlined the reporting process for Indian direct investments in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) outside India. Under the revised procedure, authorized dealers are no longer required to forward form ODA and related documents for investments made under the automatic route. However, all remittances, guarantees, and capitalizations must be reported using the updated form ODR, regardless of whether they fall under the automatic route or require RBI approval. Amendments to the relevant Foreign Exchange Management Regulations will be notified separately. These changes are issued under the Foreign Exchange Management Act, 1999.
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