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A.P. (DIR Series) Circular No.6 dated July 16, 2015 on Foreign Investment in India by Foreign Portfolio Investors is withdrawn with immediate effect by RBI.

Reserve Bank of India

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.

RBI withdraws circular on Foreign Investment in India by FPIs

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A.P. (DIR Series) Circular No.6 dated July 16, 2015 on Foreign Investment in India by Foreign Portfolio Investors is withdrawn with immediate effect.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

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