Extension of FCRA registration validity granted where renewal filed before expiry, subject to earlier disposal or refusal.
Extension of FCRA registration certificates is granted for entities whose certificates expire in the specified period and who have applied for renewal on the FCRA portal before expiry in accordance with rule 12 of the Foreign Contribution (Regulation) Rules, 2011; validity is extended until the earlier of the extended date or disposal of the renewal application. If a renewal application is refused, the certificate is deemed expired on the date of refusal and the association is prohibited from receiving or utilising foreign contribution from that date.

Government-supported line of credit enables export financing for solar electrification, subject to local content and FEMA compliance.
Government-supported Line of Credit through Export-Import Bank of India finances exports for a Togolese solar electrification project conditional on export eligibility under the Foreign Trade Policy and a local content requirement that at least 75 per cent of contract value be supplied from India; shipments to be declared in the Export Declaration Form. The LoC imposes a terminal utilization period from project completion, disallows payable agency commission under the LoC while permitting exporter-funded commission subject to realization and instructions, and directs Authorised Dealer Category I banks to facilitate compliance. Directions are issued under the Foreign Exchange Management Act.

Legal Entity Identifier requirement expands to large-value cross-border transactions, mandating LEI collection and GLEIF validation.
AD Category I banks must obtain and validate the Legal Entity Identifier (LEI) from resident non-individuals undertaking capital or current account large-value transactions from October 1, 2022; once an entity has an LEI it must be reported in all its transactions. Non-resident counterparties may be processed if LEI is unavailable to avoid disruption. Banks must capture LEI data, validate it against the GLEIF global database, encourage voluntary early adoption, and inform constituents that LEIs can be obtained from GLEIF-accredited Local Operating Units, including the recognised Indian issuer.

Benchmark rate transition to alternative reference rates alters all in cost ceilings for foreign currency ECBs and trade credits.
The benchmark for FCY ECBs and TCs is redefined to any widely accepted six month interbank rate or alternative reference rate. All in cost ceilings for new FCY ECBs/TCs are increased by 50 basis points to 500 bps and 300 bps respectively over the benchmark; existing LIBOR linked FCY ECBs/TCs transitioning to ARRs receive a one time ceiling increase of 100 basis points to 550 bps and 350 bps respectively over the ARR. INR ECBs/TCs remain unchanged and other policy provisions continue to apply.

Foreign portfolio investment circular withdrawn under RRA 2.0 recommendations to simplify rules and reduce reporting burden.
The Reserve Bank, following interim recommendations of the Regulations Review Authority (RRA 2.0), has withdrawn A.P. (DIR Series) Circular No.6 dated July 16, 2015 on Foreign Investment in India by Foreign Portfolio Investors with immediate effect. The measure is part of a regulatory streamlining initiative to reduce compliance and reporting burdens, revoke obsolete instructions, and simplify dissemination and implementation; the directions are issued under statutory powers without prejudice to permissions required under other laws.

Government-supported Line of Credit requires majority India sourcing, DPR appraisal, EDF shipment declaration and restricted commission payment.
Exim Bank's Government supported Line of Credit finances a Disaster Recovery Site subject to a DPR (cost 1% of credit); at least 75% of contract value must be supplied from India, up to 25% may be procured abroad; shipments must be declared in the Export Declaration Form; no agency commission payable from the LoC though exporters may pay commission from their own resources or EEFC balances with AD Category I banks permitting remittance after full export value realization; terminal utilization period is 60 months after scheduled project completion.

FPI investment in debt now permitted for InvITs and REITs under specified frameworks, subject to applicable limits and conditions.
Permission is granted for Foreign Portfolio Investors to acquire debt securities issued by Infrastructure Investment Trusts and Real Estate Investment Trusts under the Medium Term Framework or the Voluntary Retention Route; such investments will be reckoned within applicable FPI debt limits and subject to the terms and conditions of those routes following amendments to the Foreign Exchange Management (Debt Instruments) Regulations.

Foreign investment in telecom services allowed via automatic route but subject to licensing and specified prior approval requirements.
Telecom services are authorised to receive 100% FDI under the automatic route for listed telecom activities, including Infrastructure Provider Category I, but investors and licensees must comply with licensing, security and other terms specified by the telecom regulator. Notwithstanding the automatic route, investments falling within the FDI policy's prior approval criteria will continue to require government approval; the amendment is effective immediately.

FCRA registration validity extended to preserve continuity during transition to the amended legal regime and pending renewals.
Registration certificates under the Foreign Contribution (Regulation) Act, 2010 that were expiring during the transitional period and await renewal are declared valid until 31st December, 2021 to ensure smooth transition to the amended regime; the extension is issued in public interest under the Central Government's power under section 50, with reference to certificate duration in section 12(6) and amendments to section 16(1).

Line of credit for solar projects imposes India-content requirement, EDF declaration and FEMA-based export compliance for exporters.
Exim Bank's Government-supported Line of Credit finances exports for specified solar energy projects subject to Foreign Trade Policy eligibility and Exim Bank approval; contracts must have at least 75 percent India content with a possible reduction up to 10 percent only upon prior borrower request and Government of India approval before procurement, and reduced content must not be sourced from countries other than India or the Borrower. The LoC is effective from September 2021 with a terminal utilization period of 60 months from the contract's scheduled completion date; shipments require Export Declaration Form compliance.

Line of Credit for export financing permits predominantly Indian supplies and a multi year utilisation period, with EDF shipment reporting.
A Government supported Line of Credit finances exports for potable water rehabilitation in Sierra Leone, requiring that a substantial portion of each contract be supplied from India while permitting a limited portion to be procured abroad. The LoC has an effective date and a terminal utilisation period from project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable from the LoC; exporters may use own funds or EEFC balances to pay commission after full realisation. Authorised Dealer Category I banks must inform exporters and may permit such remittances subject to existing rules.

Alternative reference rate permitted to replace LIBOR for interest on export and import transactions, with other instructions unchanged.
Authorised Dealer Category I banks are permitted to adopt any widely accepted Alternative reference rate in the relevant currency in place of LIBOR for interest payable on export and import transactions, with all other operational instructions remaining unchanged; enabling amendments to FEMA export regulations have been notified and AD banks should notify their constituents.

Line of Credit conditions for export financing to Guinea require majority Indian sourcing and set a fixed terminal utilisation period.
Government-supported Line of Credit to Guinea authorises Exim Bank to finance eligible exports for hospital construction and upgradation, requiring that a majority of contract value be supplied from India and that shipments be declared in the Export Declaration Form. No agency commission is payable from the LoC; exporters may pay commission from their own resources or Exchange Earners' Foreign Currency Account subject to realisation and extant rules. Authorised Dealer Category-I banks must inform exporters, permit remittance after full realisation, and seek LoC details from Exim Bank. The circular is issued under FEMA and without prejudice to other legal permissions.

Line of Credit terms require majority India sourcing, EDF shipment declaration and FEMA based compliance for supported exports.
Exim Bank's Government of India supported Line of Credit to Guinea finances eligible exports under India's Foreign Trade Policy, requires a substantial majority of goods, works and services to be sourced from India, mandates shipment declaration in the Export Declaration Form, prohibits payment of agency commission from the LoC while permitting exporter-funded or EEFC-funded commission remittances after realisation, and directs Authorised Dealer Category I banks to facilitate filings and ensure compliance with directions issued under the Foreign Exchange Management Act.

Line of Credit financing requires majority sourcing from domestic suppliers and EDF shipment declarations for exports.
Government-supported Line of Credit finances specified solar projects subject to export eligibility under the Foreign Trade Policy, a sourcing requirement that at least 75 percent of contract value be supplied from India with up to 25 percent procured abroad, declaration of shipments in the Export Declaration Form, and a terminal utilization period of 60 months from scheduled project completion. No agency commission is payable under the LoC, though exporters may remit commission from their own resources or EEFC balances after realisation, with AD Category I banks complying with extant instructions.

Line of Credit for defence procurement enables exports from India with minimum domestic sourcing and EDF declaration requirements.
Government-supported Line of Credit by Exim Bank to Mauritius finances procurement of defence items from India subject to the Foreign Trade Policy; at least 75 per cent of contract value must be supplied from India with up to 25 per cent procured abroad. The Agreement is effective from July 22, 2021, with a terminal utilization period of sixty months after scheduled completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use own resources or EEFC balances for commission subject to AD bank compliance.

Line of Credit for infrastructure export financing permits Indian-sourced content requirement and Export Declaration compliance.
Government-supported Line of Credit authorizes Exim Bank to finance exports of eligible goods and services for land and infrastructure development subject to Foreign Trade Policy eligibility; at least 75 percent of contract value must be supplied from India, shipments must be declared in the Export Declaration Form, and a defined terminal utilization period applies after project completion. AD Category I banks may allow commission remittances only from exporter resources or EEFC balances after realisation and must notify exporters and refer them to Exim Bank for details. Directions are issued under FEMA.

Foreign investment via automatic route allowed where strategic disinvestment in principle approval exists for PSU petroleum refining projects
The FDI policy amendment creates a conditional exception for petroleum-sector PSUs: while private sector exploration, marketing, pipelines and refining remain allowed under the automatic route and PSU refining was previously subject to a lower foreign equity cap, foreign investment up to full foreign equity under the automatic route is permitted where an in principle approval for strategic disinvestment of a PSU has been granted; effectivity follows issuance of the applicable foreign exchange notification.

Reporting under Liberalised Remittance Scheme: authorised dealer banks must submit monthly remittance data via XBRL by the fifth following month.
AD Category I banks must report monthly Liberalised Remittance Scheme data via the XBRL system (replacing ORFS), uploading required information by the fifth day of the succeeding month from the July 1, 2021 cycle; user IDs will be provided and 'nil' should be uploaded if no data exists. The direction is issued under FEMA and without prejudice to other legal permissions.

Foreign investment caps in insurance set under automatic route with residency, governance and regulator verification requirements.
The FDI regime for the insurance sector prescribes fixed foreign equity ceilings with entry via the automatic route subject to IRDAI verification, compliance with the Insurance Act and licensing, RBI pricing guidelines for increases, and FEMA/SEBI rules for portfolio investment. Insurers with foreign investment must have a majority of resident Indian directors and key management personnel and meet the Indian Insurance Companies (Foreign Investment) Rules, 2015. Insurance intermediaries have separate full foreign equity allowance but face incorporation, senior-residency, dividend repatriation, payment limitation, disclosure and board/composition requirements. Bank-promoted insurers and related applications require RBI consultation with IRDAI.