Project Office general permission allows foreign entities to set up project offices subject to funding, contractual, reporting and remittance conditions.
General permission allows foreign entities to set up Project Offices in India subject to conditions: a contract with an Indian company and specified funding sources (inward remittance, international finance agency funding, appropriate authority clearance, or term loan to the Indian contracting party). Foreign entities must report detailed project and office particulars to the Reserve Bank Regional Office. Project Offices may seek permission to open Foreign Currency Accounts with reasons and contract excerpts, and remittances of surplus on completion or winding up may be made through Authorised Dealers subject to regulatory conditions, with intermittent remittances requiring Reserve Bank approval.

ECB eligibility rules tightened with bans on financial intermediaries, revised cost ceilings, hedging and restricted end uses.
Revisions to External Commercial Borrowings restrict eligibility to commercial legal entities and qualifying cooperatives, exclude individuals, trusts, non profits and all financial intermediaries, and bar such intermediaries from guaranteeing ECBs. All in cost ceilings have been revised by project type. Large ECBs are permitted only for equipment imports or foreign exchange needs of specified infrastructure sectors. Rupee expenditure ECBs under the Automatic Route must be hedged unless naturally hedged, and unutilised proceeds must be parked overseas. The changes are effective immediately under Sections 10(4) and 11(1) of FEMA.

Single window clearance for offshore mutual funds after SEBI approval permits issuance, dividend remittance and redemptions with quarterly reporting.
AMCs may issue units, remit dividends and redeem units of off shore funds for overseas investors once SEBI approval for launch is obtained, without separate prior RBI approval, subject to quarter end reporting to the Reserve Bank in the prescribed format covering SEBI approval details, authorised amount, units issued and outstanding, inflows and repatriations in USD, dividends remitted, units redeemed, fund value and NAV, and management fees/expenses reimbursed.

Capitalisation of import payables permitted against lump sum fees and royalties, subject to tax and pricing compliance.
Issue of equity shares is permitted against lump sum technical know how fees, royalties and ECBs in convertible foreign currency already due for payment/repayment, provided all applicable tax liabilities are met, prescribed procedures are followed, and Reserve Bank/SEBI pricing guidelines are observed; 'import payables' is limited to payables for technical know how and specified items, while import dues treated as trade credit or ECBs are excluded from conversion.

Current account remittance liberalisation permits broader outward transfers for employment, emigration, maintenance and education under eased RBI rules.
Authorised Dealers may permit remittances for employment abroad, emigration, maintenance of close relatives abroad and education abroad, and may allow payments for consultancy services procured from outside India subject to documentary satisfaction; these measures formalise amendments to the Foreign Exchange Management (Current Account Transactions) Rules, 2000 notified by the Government and are issued under the powers of the Foreign Exchange Management Act, 1999.

Project export approvals: delegated to authorised dealers and Exim Bank with standardised thresholds and enhanced monitoring.
The revised PEM delegates post award approvals and monitoring of project and service export contracts to Authorised Dealers and Exim Bank, standardises monetary clearance thresholds in foreign currency with Working Group clearance required above the ceiling, and permits Authorised Dealers/Exim Bank to relax prescribed contractual conditions, approve bridge finance and initial mobilisation remittances, and grant operational permissions (liaison offices, export of consumables, re imported equipment) subject to exporter undertakings and monitoring.

Nominated Agency: letters of credit for silver and platinum imports must be issued only on behalf of the nominated agency
Authorised Dealers must issue letters of credit for imports of silver and platinum under the Nominated Agency Scheme only on behalf of the nominated agency itself; letters of authority from other entities do not permit issuance on their behalf. The same operational restriction previously applied to gold is extended to silver and platinum, and Authorised Dealers must notify their constituents and verify the agency relationship before opening credit.

Extended realisation period for export proceeds allows exporters of listed products to repatriate full value within one year.
Authorised dealers are notified that manufacturer exporters, merchant exporters, and traders of the listed products may realise and repatriate the full value of exports within 365 days from the date of shipment for shipments made up to the specified cutoff; authorised dealers should inform their constituents and act pursuant to the Reserve Bank's powers under the Foreign Exchange Management Act.

External Commercial Borrowings by SEZ units limited to own use; transfer or on lending to DTA units prohibited.
Units in Special Economic Zones may raise External Commercial Borrowings only for their own requirements and are prohibited from transferring or on lending borrowed funds to sister concerns or any unit in the Domestic Tariff Area; Authorised Dealers must ensure compliance with Government ECB guidelines and the directions issued under the Foreign Exchange Management Act.

Forward contract hedge for non resident investors permitted to cover rupee dividend currency risk after board approval.
Non-resident persons with Foreign Direct Investment in Indian companies may enter into forward contracts with Authorised Dealers using the rupee to hedge currency risk on dividends receivable, but forward cover may be taken only after the dividend rate is approved by the company's Board of Directors; implementing amendments to the Foreign Exchange Derivative Contracts Regulations, 2000 will be issued and Authorised Dealers should inform constituents under the FEMA, 1999 framework.

Industrial licence granted directly to applicants to speed project implementation, subject to statutory approvals and small scale exceptions.
Industrial licence applications for new undertakings, expansions, or manufacture of new articles will as a default be granted directly against applications to expedite implementation; applications for items reserved for exclusive small scale production remain subject to initial issuance of a Letter of Intent and subsequent conversion into an Industrial Licence after execution of a Legal Undertaking to satisfy export-obligation conditions. Entrepreneurs remain responsible for obtaining all requisite statutory approvals and clearances under central and state laws for the specified manufacturing activity.

Rupee loan permission for nonresident employees allows personal housing loans with repayment only by remittance or specified account debit.
Indian companies may grant rupee loans to employees who are Non-Resident Indians or Persons of Indian Origin for personal purposes, including purchase of residential property, provided loans are made under the lender's staff welfare scheme on terms comparable to residents, credited to the borrower's NRO account, not used for specified prohibited purposes, and that repayment is permitted only by remittance from abroad or by debit to the borrower's NRE, NRO or FCNR account.

Consignment export of books: authorised dealers may approve extended realisation periods and permit abandonment of unsold stock.
Authorised dealers may approve export of books on consignment permitting extended realisation of export proceeds from the date of shipment; exporters may abandon unsold books at the expiry of the sale contract and show the value of unsold books as a deduction from export proceeds in the Account Sales. Authorised dealers should inform their constituents. Directions are issued under the Foreign Exchange Management Act, 1999.

Nominated Agency Scheme: Letters of credit for gold imports must be opened only by the nominated agencies, not by third parties.
Only designated nominated agencies and permitted banks may open Letters of Credit for import of gold under the Nominated Agency Scheme; other entities must not establish such Letters of Credit even if they furnish a letter of authority from a nominated agency, and Authorised Dealers must ensure LCs are opened only on behalf of the nominated agencies themselves.

Borrowing from close relatives abroad allowed subject to one year minimum maturity, interest free terms and normal banking receipt.
An individual resident may borrow from close relatives outside India subject to RBI permission up to the prescribed foreign currency ceiling, provided the loan has a minimum maturity of one year, is interest free, and the amount is received by inward remittance in free foreign exchange through normal banking channels or by debit to the non resident lender's NRE/FCNR(B) account; "close relative" follows the Companies Act definition.

Consolidated A1/A2 filings permitted for recurring remitters, aligning periodicity with R Returns and electronic submission allowed.
Authorised Dealers may accept consolidated A1/A2 forms from software exporters and other recurring remitters on a fortnightly basis, aligned with R Returns periodicity, submitted electronically or on floppy with complete transaction details; Authorised Dealers must ensure this facility does not affect submission of FET ERS and must inform their constituents. The directions are issued under the Foreign Exchange Management Act, 1999.

Export bill write-off permitted after ECGC settlement, but rupee settlements are not foreign exchange realisation.
Authorised Dealers may write off and delete from XOS statements export bills when the exporter applies and provides ECGC documentary evidence confirming settlement; this write-off is not limited by the earlier ten per cent cap. Duplicate GR/SDF/PP/SOFTEX forms must remain in dealers' custody and exporters' statutory obligation to realise export proceeds within the prescribed period continues. Claims settled by ECGC in rupees are not to be treated as export realisation in foreign exchange and must not be credited to Exchange Earner's Foreign Currency Accounts under FEMA.

Transfer of EEFC and RFC(D) balances permitted to NRE or FCNR B accounts upon change to non resident status.
Balances in EEFC and RFC(D) Accounts may be credited to NRE or FCNR B Accounts at the account holder's option upon change of residential status from resident to non resident; Authorised Dealers should inform constituents and allow such credits in accordance with foreign exchange regulations.

Foreign currency accounts in India for project exporters allowed, subject to specified operational restrictions and compliance conditions.
Project and service exporters resident in India may open, hold and maintain Foreign Currency Account in India for execution of overseas contracts with Approving Authority approval; each project requires a separate account, no rupee loans or overdrafts are permitted, balances are subject to SLR/CRR, permitted credits/debits are limited to client receipts, interest, approved overseas payments, transfers to project site, project rupee expenses and final conversion to rupees, and accounts must be closed on project completion with balances transferred; short-term deposits allowed up to one year and no forward cover permitted.

Foreign diplomatic property purchases allowed with government clearance and payment through bank remittances for non-agricultural immovable assets.
Purchase and sale of immovable property in India by Foreign Embassies, Diplomats and Consulate Generals is permitted excluding agricultural land, plantation property and farm houses, provided prior clearance is obtained from the Ministry of External Affairs and the consideration is paid out of funds remitted from abroad through the banking channel; the permission is effected by an amendment inserting a new regulatory provision into the exchange control framework.