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    <title>Review of Circulars issued under Foreign Exchange Management Act, 1999 (FEMA)</title>
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    <description>Rationalisation of the FEMA regulatory framework through review of circulars issued since June 1, 2000, and withdrawal of those listed in the Annex that have ceased to operate because of subsequent regulatory amendments, redundancy, overlap or supersession by later directions. Authorised Persons are advised to bring the circular to the notice of their constituents. The directions are issued under Section 10(4) and Section 11(1) of FEMA, 1999, without prejudice to permissions or approvals required under other laws.</description>
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