Photo of Vanya Agarwal

Associate in the General Corporate Practice at the Mumbai office of Cyril Amarchand Mangaldas.  She can be reached at vanya.agarwal@cyrilshroff.com

New ODI Regime

Background

The Ministry of Finance (“MoF”) and Reserve Bank of India (“RBI”) notified the new overseas investment (“OI”) regime on August 22, 2022 (“New Regime”).

The New Regime inter alia comprises the OI Rules, 2022[1] notified by the MoF (“Rules”), the OI Regulations, 2022[2] notified by the RBI and the Master Directions issued by the RBI to authorised persons. It supersedes FEMA 120[3] and the circulars and directions issued thereunder (“Old Regime”).

Continue Reading New ODI Regime: What RBI needs to clarify?