RBI Report
To review FX mgmt non-debt instruments, other FX rules in FY27
This story was originally published at 15:57 IST on 29 May 2026
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--RBI: To review FX management non-debt instruments rules in FY27
--RBI: To review deposits regulations, FX mgmt insurance norms in FY27
--RBI: Reviewing FEMA norms for FX acct of person resident in India
--RBI:To boost transparency in pricing for retail via FX ops disclosure FY27
NEW DELHI – The Reserve Bank of India is looking to review and rationalise multiple foreign exchange management regulations, including non-debt instruments and insurance in 2026-27 (Apr-Mar). "During 2025-26, the Reserve Bank continued to focus on further developing and deepening financial markets through several initiatives, including rationalising external sector regulations for increased ease of doing business and encouraging the adoption of INR for cross-border transactions," it said in its Annual Report for FY26 released Friday.
The central bank said it has reviewed the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, to make procedures more principle-based, ensure uniform applicability across investee entities, avoid overlap with existing domestic laws and clearly distinguish foreign investment rules from foreign direct investment policy. The revised rules were submitted to the government in November for consideration, it said.
Furthermore, pursuant to an internal review of the extant deposit regulations, a review of Foreign Exchange Management Act regulations governing deposits and foreign currency accounts by Person Resident in India is being carried out, it said. The central bank is also looking to comprehensively rationalise the foreign exchange management act for mode of payment and reporting of non-debt instruments.
A review will be carried out for regulations related to establishment of a branch office or a liaison office or any other place in India. The apex bank will also review the foreign exchange compounding proceedings regulations, 2024.
According to the report, in FY27, the RBI will mandate disclosure of foreign exchange conversion and transaction charges for FX cash, tom, and spot trades, in order to ensure greater transparency in pricing for retail users. It is also looking to consolidate all circulars pertaining to secondary market transactions in government securities into a single master direction. End
US$1 = INR 95.00
Reported by Pratiksha
Edited by Himanshi Gupta
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