VOLUNTARY RETENTION ROUTE - IMPARTING PREDICTABILITY AND INCREASING EASE OF DOING BUSINESS

NEW DELHI, Feb. 6 -- The Government of India issued the following FEMA circular:

RBI/2025-26/205

A.P. (DIR Series) Circular No. 21

February 06, 2026

To

All Authorised Dealer Category-I banks

Madam / Sir,

Voluntary Retention Route - Imparting predictability and increasing ease of doing business

Please refer to Paragraph 15 of the Statement on Developmental and Regulatory Policies announced as a part of the Bi-monthly Monetary Policy Statement for 2025-26 dated February 06, 2026, on the Voluntary Retention Route (VRR) for FPI investments in debt instruments. Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 1 to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified, vide Not...