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of <h1>Master Circular on Overseas Direct Investments by Residents: Framework for Banks, Effective July 2, 2007, with Sunset Clause.</h1> The Master Circular consolidates guidelines for direct investments by residents in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) abroad, as per the Foreign Exchange Management Act, 1999, and related notifications. It provides a comprehensive framework for authorized banks dealing in foreign exchange to facilitate these investments. The circular, effective from July 2, 2007, includes a sunset clause, expiring on July 1, 2008, after which it will be replaced by an updated version. The document aims to streamline existing instructions and references related to overseas direct investments by residents.
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