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FEDAI Guidelines for Foreign Exchange.


Established in 1958, FEDAI (Foreign Exchange Dealers' Association of India) is a group of banks that deals in foreign exchange in India as a self regulatory body under the Section 25 of the Indian Company Act (1956).

The role and responsibilities of FEDAI are as follows:

  • Formulations of FEDAI guidelines and FEDAI rules for Forex business.
  • Training of bank personnel in the areas of Foreign Exchange Business.
  • Accreditation of Forex Brokers.
  • Advising/Assisting member banks in settling issues/matters in their dealings.
  • Represent member banks on Government/Reserve Bank of India and other bodies.
  • Rules of FEDAI also include announcement of daily and periodical rates to its member banks.

FEDAI guidelines play an important role in the functioning of the markets and work in close coordination with Reserve Bank of India (RBI), other organizations like Fixed Income Money Market and Derivatives Association  (FIMMDA), the Forex Association of India and various other market participants.

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What is New?

Date: 25-11-2014
Central Excise INSTRUCTION
Regarding procedure of service tax refund/exemption to SEZ

Date: 21-11-2014
RBI/2014-15/309 A.P. (DIR Series) Circular No. 39
External Commercial Borrowings (ECB) Policy – Parking of ECB proceeds

Date: 21-11-2014
RBI/2014-15/310 A.P. (DIR Series) Circular No.40
Release of Foreign Exchange for Haj/ Umrah pilgrimage

Date: 21-11-2014
Customs Notification No. 32/ 2014
Seeks to exempt from customs duty goods required for the Intensified Malaria Control Project funded by GFATM.

Date: 21-11-2014
Customs Notification No. 44/2014-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of diclofenac sodium, originating in or exported from People's Republic of China, for a period of five years.

Date: 21-11-2014
Customs Notification No. 45/2014-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of Digital Versatile Discs-Recordable (DVD-R and DVD-RW), originating in or exported from People's Republic of China, Hong Kong and Chinese Taipei for a period of five years.

Date: 21-11-2014
Central Excise Notification No 23/2014
Seeks to exempt from excise duty goods required for the Intensified Malaria Control Project funded by GFATM.

Date: 20-11-2014
DGFT Public Notice No.75/(RE 2013)/2009-14
Modification of SION A-1475 and SIONs A-1839, A-1841 and A-1842.

Date: 20-11-2014
Customs Notification No 111/2014 (NT)
Rate of exchange of conversion of each of the foreign currency with effect from 21st November, 2014

Date: 20-11-2014
RBI/2014-15/306 A.P. (DIR Series) Circular No. 37
Export of Goods / Software / Services – Period of Realisation and Repatriation of Export Proceeds – For exporters including Units in SEZs, Status Holder Exporters, EOUs, Units in EHTPs, STPs and BTPs