Regulations Review Authority (RRA 2.0) – Interim Recommendations – Withdrawal of Circular No. 18

Last updated: 17 November 2021

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The Reserve Bank of India (RBI) has announced the withdrawal of A.P. (DIR Series) Circular No. 18, effective immediately. This action is part of the implementation of interim recommendations from the Regulations Review Authority 2.0 (RRA 2.0). The withdrawn circular pertains to Foreign Investment in India by Foreign Portfolio Investors.

RBI/2021-22/130
A.P. (DIR Series) Circular No.18

November 16, 2021

To
All Authorised Persons

Madam / Sir,

Regulations Review Authority (RRA 2.0) – Interim Recommendations – Withdrawal of Circular

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the announcement on setting up of a new Regulations Review Authority (RRA 2.0), vide press release dated April 15, 2021 and the publication of the interim recommendations of the RRA 2.0, vide press release dated November 16, 2021.

2. As part of the implementation of the interim recommendations of the RRA 2.0, the A.P. (DIR Series) Circular No.6 dated July 16, 2015 on Foreign Investment in India by Foreign Portfolio Investors is withdrawn with immediate effect.

3. The Directions contained in this circular have been issued under sections 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

(Dimple Bhandia)
Chief General Manager

FAQ :

A.P. (DIR Series) Circular No. 18, dated November 16, 2021, concerning Foreign Investment in India by Foreign Portfolio Investors, is being withdrawn.

The withdrawal is part of the implementation of the interim recommendations made by the Regulations Review Authority 2.0 (RRA 2.0).

The withdrawal is effective immediately.

Authorised Dealer Category-I (AD Category-I) banks are informed about this withdrawal.

RRA 2.0 stands for Regulations Review Authority 2.0, established by the RBI.

Guest

Notification No : RBI/2021-22/130 A.P. (DIR Series) Circular No.18
Published in Community & General
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12199&Mode=0

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