Foreign Exchange Management (Authorised Persons) Regulations, 2026

RESERVE BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
CENTRAL OFFICE
MUMBAI 400 001

Notification No. FEMA 401/2026-RB

April 30, 2026

Foreign Exchange Management (Authorised Persons) Regulations, 2026

In exercise of the powers conferred under clause (h) of sub-section (2) of Section 47 read with Section 10 of the Foreign Exchange Management Act, 1999 (42 of 1999) and all other powers enabling it in this behalf, the Reserve Bank hereby, makes the following regulations, namely,

Chapter I – Preliminary

1. Short title and commencement - (1) These regulations may be called the Foreign Exchange Management (Authorised Persons) Regulations, 2026.

(2) These regulations shall come into force from the date of their publication in the Official Gazette.

2. Definitions - (1) In these regulations, unless the context otherwise requires, the terms defined herein shall bear the meanings assigned to them below, and their cognate expressions shall be construed accordingly, –

(a) “Act” means the Foreign Exchange Management Act, 1999 (42 of 1999);

(b) “Annual Forex Turnover” means the aggregate of foreign exchange purchased and sold by an authorised person or a Forex Correspondent from/to the public directly, and through its agents/franchisees/Forex Correspondents, during a financial year, excluding the value of inward remittances processed;

(c) “Authorised Dealer (AD)” means a person authorised as an authorised dealer under sub-section (1) of section 10 of the Act;

(d) “Company” means a company incorporated under the Companies Act, 2013 (18 of 2013);

(e) “Control” shall have the same meaning as assigned to it under sub-section (27) of section 2 of the Companies Act, 2013 (18 of 2013);

(f) “Director” shall have the same meaning as assigned to it under sub-section (34) of section 2 of the Companies Act, 2013 (18 of 2013);

(g) “Forex Correspondent (FxC)” means an agent of an Authorised Dealer appointed in terms of the Forex Correspondent Scheme (FCS) issued by the Reserve Bank;

(h) “Full Fledged Money Changer (FFMC)” means a money changer authorised under sub-section (1) of section 10 of the Act;

(i) “‘Key Managerial Personnel (KMP)” shall have the same meaning as assigned to it under sub-section (51) of section 2 of the Companies Act, 2013;

(j) “Net Worth” shall have the same meaning as assigned to it under sub-section (57) of section 2 of the Companies Act, 2013 (18 of 2013);

(k) “Promoter” shall have the meaning as assigned to it under sub-section (69) of section 2 of the Companies Act, 2013 (18 of 2013);

(l) “Significant Influence” shall have the same meaning as assigned to it under the Explanation (a) to sub-section (6) of section 2 of the Companies Act, 2013 (18 of 2013);

(2) Words and expressions used but not defined in these regulations shall have the same meanings respectively assigned to them in the Act.

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