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of <h1>RBI's Master Circular Consolidates Foreign Investment Rules Under FEMA 1999, Effective Until July 1, 2008.</h1> The Master Circular on Foreign Investment in India, issued by the Reserve Bank of India (RBI), consolidates regulations and instructions under the Foreign Exchange Management Act, 1999. It addresses foreign investment regulations related to the acquisition of immovable property, establishment of branch or liaison offices, and investment in partnership firms or proprietary concerns. The circular compiles existing instructions from various RBI circulars and notifications, with a sunset clause indicating it will be replaced by an updated version on July 1, 2008. This circular is directed at all Category-I Authorized Dealer banks.
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