Deduction of tax at source on remittances to non residents requires remitters to furnish prescribed undertaking and CA certificate.
Remittances to non residents, including trade and business payments, attract deduction of tax at source under Section 195 read with Rule 29B; remitters must submit the CBDT prescribed undertaking and Chartered Accountant's certificate to the authorised dealer at the time of making the foreign exchange remittance, and authorised banks must obtain these documents and inform customers while remaining subject to any other statutory permissions.

Maintenance of collateral by clearing corporations allows demat holding, transfer and liquidation of foreign sovereign securities for derivatives trading.
Permits SEBI-approved clearing corporations and their clearing members to open and maintain dematerialised accounts with foreign depositories to acquire, hold, pledge, transfer and liquidate foreign sovereign securities offered by FIIs as non-cash collateral for derivatives transactions, and to remit proceeds from corporate actions. Requires monthly reporting by clearing corporations of balances of such foreign sovereign securities held as non-cash collateral to the Reserve Bank by the tenth of the following month, and notes that regulatory amendments will be issued separately.

Acceptance of FCNR(B) deposits expands RRBs' foreign deposit services subject to sponsor bank arrangements and regulatory authorisation.
RRBs, subject to Regional Office authorisation, may accept FCNR(B) deposits in specified currencies and must enter tie ups with sponsoring banks: foreign currency funds are received to the sponsor's nostro, treated as placements by the RRB, and managed by the sponsor. Sponsors may swap funds with RRBs only if the sponsor assumes all exchange and maturity mismatch risk. Interest, accounting and maturity payment arrangements are by mutual agreement. RRBs report non resident deposit data in CSR format while sponsoring banks report currency transactions in appropriate returns.

Export Credit Refinance Facility guidelines consolidated and published to ensure uniform application by scheduled banks excluding regional rural banks.
Consolidation and revision of operative instructions on the Export Credit Refinance Facility for scheduled commercial banks (excluding regional rural banks), published as a Master Circular and accompanied by an Appendix listing subsequently issued guidance to assist uniform application and compliance.

Obligations of banks under FCRA: ensure due diligence, monitor and regulate receipt of foreign contributions by associations.
Banks must regulate, monitor and control the receipt of foreign contributions into accounts of associations and organizations, applying due diligence, compliance checks, monitoring procedures and operational controls at controlling offices and branches to detect and prevent receipts that contravene the Foreign Contribution (Regulation) Act, 1976.

FCNR(B) deposit instructions consolidated; updated interest-rate master circular posted for scheduled commercial banks to implement.
Consolidation of instructions for FCNR(B) accounts and interest-rate provisions has been issued as a Master Circular updating prior guidance through the stated cut-off; the updated consolidated text is posted on the regulator's official website for use by Scheduled Commercial Banks (excluding Regional Rural Banks).

Interest rates on rupee deposits: consolidated master circular updates guidelines and publishes current instructions online.
Consolidation of instructions on Interest Rates on Rupee Deposits for Domestic, NRO and NRE accounts, preserving account-specific treatment and regulatory framework; the Master Circular incorporates all instructions issued up to the cut-off date, is addressed to scheduled commercial banks (excluding RRBs), and is published on the Reserve Bank's website as the updated authoritative repository for these guidelines.

Export credit consolidation updates bank instructions, merging domestic and foreign export credit and customer-service rules.
Consolidated master circular merges prior guidance on domestic export credit, foreign currency export credit and customer service to exporters, updating instructions to 30th June 2007. Directed to all Scheduled Commercial Banks (excluding RRBs), it sets out eligibility, permissible credit forms, procedural simplifications for delivery, reporting obligations, and incorporates clarificatory instructions issued during the year; the consolidated text is published on the regulator's website.

Export of goods and services regulation consolidated under master circular, clarifying FEMA permissions and operational guidance with sunset clause.
Export of goods and services from India is permitted under Foreign Exchange Management Act provisions, and this Master Circular consolidates existing RBI instructions, notifications, and forms on the subject. It sets out general and operational guidelines for authorised dealer banks, lists annexes and prior circulars, and is issued with a one-year sunset clause to be replaced by an updated master circular.

Import permissions under FEMA enable regulated import of goods and services subject to notification compliance and operational guidelines.
Import of goods and services is permitted under the statutory foreign exchange framework and subject to the applicable notification; imports must comply with the notification's conditions and procedures. The circular is organised into parts detailing introduction, general and operational guidelines, annexures with notifications and forms, and a consolidated list of circulars, and includes a one year sunset clause after which it will be replaced.

External commercial borrowings consolidation: master circular unifies instructions and imposes a sunset for replacement within a year.
External commercial borrowings and trade credits for residents are governed by provisions of the Foreign Exchange Management Act; the Master Circular consolidates all existing instructions into one document with the underlying circulars and notifications listed in an appendix and is issued with a sunset clause to be withdrawn and replaced after one year.

Risk management and inter-bank dealings guidance consolidates FEMA-based rules for rupee accounts and forex derivative compliance.
Consolidates regulatory instructions governing risk management and inter-bank dealings for rupee accounts of non-resident banks, inter-bank transactions and foreign exchange derivative contracts, stating these activities are governed by the relevant FEMA notifications and regulations and that the circular compiles underlying circulars/notifications for reference.

Miscellaneous remittance facilities consolidated under FEMA guidance; interim RBI circular centralises rules and includes a one year sunset clause.
Consolidates operational permissions and restrictions for miscellaneous remittances by residents under the Foreign Exchange Management Act and the implementing Government Notification, assembling prior RBI circulars and instructions and setting out the responsibilities of Authorised Dealers. The circular is issued as an interim consolidated reference with an appendix of underlying communications and a one year sunset clause, to be withdrawn and replaced by an updated master circular on expiry.

Remittance facilities consolidated under FEMA notifications, clarifying eligibility and procedures with a temporary limited-duration sunset.
Remittance facilities for non-resident Indians, persons of Indian origin and foreign nationals are consolidated under the regulatory framework of the Foreign Exchange Management Act, 1999 and related FEMA notifications; authorised banks are directed to follow the unified instructions and an appendix lists the underlying circulars and notifications. The Master Circular is issued for a limited duration and will be replaced by an updated compilation after that period.

Non-resident rupee account rules consolidated with a sunset clause requiring replacement by an updated master circular.
Acceptance of deposits from persons resident outside India by authorised dealers and authorised banks must comply with the Foreign Exchange Management Act and the applicable FEMA notification. This Master Circular consolidates existing instructions and underlying circulars on the Non-Resident Ordinary Rupee (NRO) Account into a single reference for authorised banks. The circular is issued with a sunset clause and will be withdrawn and replaced by an updated master circular at the end of its term.

Foreign investment regulation consolidates rules on property acquisition, establishment of offices and partnership investments, with scheduled revision.
This Master Circular consolidates Reserve Bank instructions and FEMA notifications governing foreign investment, specifically addressing acquisition of immovable property by non-residents, establishment of representative/branch/liaison offices in India, and foreign investment in partnership firms and proprietary concerns; it lists underlying circulars and notifications in an Appendix and contains a one-year sunset clause providing for withdrawal and replacement by an updated consolidated Master Circular.

Direct investment abroad: consolidation permits resident investment in JV/WOS overseas, subject to applicable notifications and a sunset clause.
Direct investment by residents in a joint venture (JV) or wholly owned subsidiary (WOS) abroad is authorised under the foreign exchange regulatory framework and applicable notifications; this circular consolidates existing instructions and source circulars concerning such direct investments and is issued with a limited-duration sunset clause after which it will be withdrawn and replaced by an updated master circular, with authorised dealers and persons dealing in foreign exchange expected to follow the consolidated instructions.

Advance remittance for aviation imports without bank guarantee permitted, subject to KYC, contractual payment terms and import compliance.
Permits advance remittance for direct import of aircraft, helicopters and other aviation-related purchases by authorised scheduled airlines without a bank guarantee or standby letter of credit subject to a sector-specific limit; AD Category I banks must satisfy themselves of bonafides, carry out KYC and due diligence on importer and supplier, ensure payments conform to sale contracts and are paid directly to the manufacturer, adopt board-approved internal guidelines, secure prerequisite regulatory clearances, ensure import within prescribed periods with documentary proof, and repatriate advances if import does not occur.

Hedging of overseas direct investments: forward contracts may be cancelled and partial rebooking permitted under revised FEMA guidance.
AD Category I banks may allow residents to cancel forward contracts entered to hedge exchange risk on overseas direct equity and loan investments, subject to verification of exposure and continuance of other conditions from the earlier circular; a portion of cancelled contracts may be rebooked and regulatory amendments will be notified separately.

Overseas direct investment liberalisation expands permitted investment limits and redefines guarantee treatment for Indian investors.
Overseas direct investment rules are liberalised: AD Category I banks may permit investments by Indian companies under the Automatic Route up to an enhanced ceiling measured against the last audited net worth. Financial commitment is redefined to include the full amount of guarantees issued by the investing company or related Indian entities, applicable to new and existing investments. Listed Indian companies' portfolio investment limit in eligible foreign securities is also increased, with existing portfolio conditions unchanged.