Issuance of Foreign Exchange Management (Authorised Persons) Regulations, 2026

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RBI/2026-27/78 A.P. (DIR Series) Circular No. 09 May 06, 2026 All Authorised Persons, Madam / Sir, Issuance of Foreign Exchange Management (Authorised Persons) Regulations, 2026 The Reserve Bank has reviewed the existing framework for authorisation of any person as an Authorised Person under the Foreign Exchange Management Act, 1999, with the objective to rationalise the framework to improve delivery of foreign exchange services as well as easing compliance requirements. Accordingly, the Foreign Exchange Management (Authorised Persons) Regulations, 2026 has been notified vide Notification No. FEMA 401/2026-RB dated April 30, 2026 (published in the Official Gazette on May 06, 2026). All authorised persons shall comply with aforementioned regulations as applicable to them. 2. Upon issuance of the aforementioned regulations, instructions, as per Annex I , contained in Master Directions – Money Changing Activities and Master Direction – Other Remittance Facilities are being amended. Further, the A.P. (DIR Series) Circulars as per the Annex II are being superseded. 3. These directions are being issued under Section 10(4) and Section 11 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 Yours Sincerely, (N Senthil Kumar) Chief General Manager Annex II List of A.P. (DIR Series) Circulars superseded S.N. A.P. (DIR Series) Circular Date 1. A.P. (DIR Series) Circular No. 20 November 16, 2000 2. A.P. (DIR Series) Circular No. 11 November 13, 2001 3. A.P. (DIR Series) Circular No. 25 March 06, 2006 4. A.P. (DIR Series) Circular No. 40 December 10, 2008 5. A.P. (DIR Series) Circular No. 61 May 16, 2011 6. A.P. (DIR Series) Circular No. 41 November 01, 2011 7. A.P. (DIR Series) Circular No. 60 December 22, 2011 8. A.P. (DIR Series) Circular No. 71 January 30, 2012 9. A.P. (DIR Series) Circular No. 33 September 24, 2012 10. A.P. (DIR Series) Circular No. 87 March 25, 2015 11. A.P. (DIR Series) Circular No. 12 September 10, 2015