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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: 01-10-2015
Customs Notification No 97/2015 (NT)
Rate of exchange of conversion of the foreign currency with effect from 2nd October, 2015

Date: 01-10-2015
DGFT Public Notice No. 38/2015-2020
Amendment in Appendix – 2T in Appendices and Aayat Niryat Forms of FTP 2015-20.

Date: 01-10-2015
DGFT Public Notice No. 39/2015-2020
Enlistment under Appendix 2E – Agencies Authorized to issue Certificate of Origin - (Non-Preferential).

Date: 30-09-2015
Customs Notification No. 48/ 2015
seeks to further amend notification No. 12/2012-Customs dated 17.03.2012 so as to: extend zero import duty regime for all pulses except gram [CTH 0713 20 00] and lentil [CTH 0713 40 00] without an end date .extend zero import duty regime for gram [CTH 0713 20 00] and lentils [CTH 0713 40 00] only up to 31.12.2015

Date: 30-09-2015
Customs Notification No 96/2015 (NT)
Tariff Notification in respect of fixation of T V of Edible oil, Brass, Poppy seed, Areca nut, Gold and Sliver

Date: 30-09-2015
RBI/2015-16/195 A.P. (DIR Series) Circular No.18
Regularisation of assets held abroad by a person resident in India under Foreign Exchange Management Act, 1999

Date: 29-09-2015
Customs Notification No 95/2015 (NT)
Rate of exchange of conversion of the foreign currency with effect from 30th September, 2015

Date: 29-09-2015
Customs Circular No 23/2015
Regarding Refund/Claim of Safeguard Duties as Duty Drawback

Date: 29-09-2015
RBI/2015-16/193 A.P. (DIR Series) Circular No.17
External Commercial Borrowings (ECB) Policy - Issuance of Rupee denominated bonds overseas

Date: 25-09-2015
Notification No. FEMA. 348/2015-RB
Foreign Exchange Management (Regularization of assets held abroad by a person resident in India) Regulations, 2015.

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