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of <h1>RBI Simplifies Overseas Investment for Indian Residents with New Directions, 2022; Introduces Strategic Sectors, Eases Compliance.</h1> The Foreign Exchange Management (Overseas Investment) Directions, 2022, issued on August 22, 2022, by the Reserve Bank of India, aim to simplify and liberalize overseas investment procedures for Indian residents. The new framework introduces key changes, including clearer definitions, the concept of 'strategic sector,' and the removal of specific approval requirements for certain transactions. It also introduces a Late Submission Fee for reporting delays. The directions are designed to enhance global business opportunities for Indian entities, reduce compliance burdens, and boost competitiveness. The circular supersedes previous notifications and provides detailed operational instructions for authorized dealer banks.
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