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<h1>RBI Master Circular on Overseas Investments: Guidelines for Indian Residents on JVs and WOS Abroad under FEMA 1999.</h1> The Master Circular issued by the Reserve Bank of India (RBI) consolidates guidelines on direct investments by Indian residents in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) abroad under the Foreign Exchange Management Act, 1999. It outlines the statutory basis, prohibitions, and general permissions related to these investments. The circular details the automatic and approval routes for overseas investments, methods of funding, and specific conditions for investments in various sectors. It also addresses the procedural aspects for authorized dealer banks, including reporting requirements and operational instructions. The circular is updated periodically to reflect new instructions.