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of <h1>New Guidelines for Reporting Overseas Direct Investment: Streamlined Forms and Online Compliance for Authorized Dealer Banks.</h1> The circular addresses the rationalization and reporting of Overseas Direct Investment (ODI) forms, issued to Category-I Authorized Dealer Banks. It consolidates Form ODI Part II into Part I, creating a five-section form for reporting transactions related to Joint Ventures and Wholly Owned Subsidiaries. A new reporting format for Venture Capital Funds and other investments is introduced. The circular mandates online reporting of ODI transactions, introducing roles such as AD Maker, Checker, and Authorizer to ensure compliance. Non-compliance will be treated as a contravention of FEMA regulations, with potential penalties. The circular's guidelines are effective immediately.
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