From Local to Global: Decoding RBI's Recent Amendments to FEMA Regulations for Cross-Border Transactions

RBI has amended the following regulations (i) Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 (FCA Regulations) through the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025 (FCA Amendment); and (ii) Foreign Exchange Management (Deposit) Regulations, 2016 (Deposit Regulations) through the Foreign Exchange Management (Deposit) (Fifth Amendment) Regulations, 2025 (Deposit Amendment), (collectively the ‘Amendments’).