Saturday, September 15, 2012

RBI ISSUES CIRCULAR ON RATIONA- LISATION OF OVERSEAS DIRECT INVESTMENTS

The Reserve Bank of India (RBI) has said that the ODI form has been revised to include a
declaration from the company. The Auditors are also required to certify investment being as per Foreign Exchange Management Act (FEMA) norms, within limits, correct valuation and
submission of annual reports in a revised format. The Reserve Bank of India (RBI) has also decided
to add the following items in Section 'F' of Form ODI Part I, to be submitted by every Indian party
while undertaking ODI transaction.

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