| Date: |
12-05-2016
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| Notification No: |
RBI/2015-16/395 A.P. (DIR Series) Circular No. 68
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
RBI/2015-16/395 |
| Subject: |
Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015
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RBI/2015-16/395
A.P. (DIR Series) Circular No. 68 [(1)/23(R)]
May 12, 2016
To
All AD Category - I Authorised Dealer Banks
Madam/ Sir
Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015
Attention of Authorised Dealers (ADs) is invited to A.D.(M.A. Series) Circular
No. 11 dated May 16, 2000 in terms of which ADs were advised of various Rules,
Regulations, Notifications/ Directions issued under the Foreign Exchange
Management Act, 1999 (hereinafter referred to as the Act). On a review it is
felt necessary to revise the regulations issued under the Foreign Exchange
Management (Exports of Goods and Services) Regulations, 2000 as amended from
time to time. Accordingly, in consultation with the Government of India, the
said regulations have been repealed and superseded by the Foreign Exchange
Management (Exports of Goods and Services) Regulations, 2015.
- The Annexure attached to this Circular contains detailed directions
relating to dealings of ADs with their exporter clients.
- The new regulations have been notified vide
Notification No. FEMA.
23(R)/2015-RB dated January 12, 2016 c.f. G.S.R. No. 19 (E) dated January
12, 2016 and have come into force with effect from January 12, 2016. The
Master Direction No. 16 of 2015-16 (Export of Goods and Services) has been
updated accordingly to incorporate the above changes.
- ADs may bring the contents of the circular to the notice of their
constituents concerned.
- The directions contained in this circular have been issued under Section
10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999)
and are without prejudice to permissions/ approvals, if any, required under
any other law.
Yours faithfully,
(Shekhar Bhatnagar)
Chief General Manager-in- charge
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