Reserve Bank of India 🇮🇳 Sr. Description of Service Time 1. EXTERNAL COMMERCIAL BORROWING (ECB) / FOREIGN CURRENCY CONVERTIBLE BONDS (FCCB) Trade Credit under approval route 7 working days Approval for deviation from the extant framework for ECBs already availed under automatic route 15 working days ECB - under approval route (excluding those under the powers of the Empowered Committee) 30 working days 2. FOREIGN INVESTMENT Foreign Direct Investment:
References/clarifications/approvals sought under extant FDI Rules/ regulations (should be invariably routed through AD banks)30 working days References relating to reporting received from AD branches / individuals/ companies - 15 working days 3 INDIAN INVESTMENT ABROAD Investment in Overseas Joint Ventures and Wholly Owned Subsidiaries (not covered by automatic route) 40 working days Disinvestment of shares in Overseas Joint Ventures/ Subsidiaries - under approval route 40 working days Other Overseas Investment under approval route 40 working days Allotment of Unique Identification Number (UIN) Instantly auto generated by the online reporting system 4 EXPORTS Permission for waiving GR Form formalities for exports@ 07 working days Set Off / Write Off@ 07 working days Export receivables / payables outside ACU mechanism@ 07 working days Refund / retention of advance@ 07 working days Resolution of I/EDPMS issues@ 07 working days 5. IMPORTS Direct imports@ 07 working days Third country / Merchanting trade / Warehousing@ 07 working days Import receivables / payables outside ACU mechanism@ 07 working days 6 OTHERS Compounding of contraventions of FEMA 180 days @ The timelines stipulated pertain to disposal of cases at the Regional Offices (ROs). In respect of cases not falling within the delegated powers of AD bank/ RO and referred to Central Office (CO), the time taken for providing the service will be 20 working days from the date of receipt of application along with complete information/documents at CO. Cases involving policy issues will not be covered within these timelines.
The stipulated timelines are subject to receipt of the complete set of requisite documents for the necessary approval.Disclaimer -
The stipulated timelines are not applicable for cases wherever an approval/no-objection/inputs/comments due diligence reports are required/sought from the Government and/or other external agencies, under FEMA, 1999 or Rules/Regulations thereunder or for other specific reason(s) and those referred to Empowered Committee for approval.
FEMA Compliance Consultant
Email: ask@fema.in
RBI - Foreign Exchange Department - Approval & Processing Time
