Corporate Amicus, January 2026

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Article

RBI releases FEMA 2026 Export-Import Trade Regulations: What businesses need to know

By Asish Philip Abraham, Pratyush Jain and Shreyasi Chakraborty

RBI recently notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 followed by the Directions on Export and Import of Goods and Services. The changes are aimed at enhancing ease of doing business while affording greater operational flexibility to authorised dealer banks, in recognition of the evolving dynamics of cross-border transactions. The article in this issue of Corporate Amicus examines the key insights into the current trade framework and elaborately discusses the substantive reforms now introduced. Discussing the relevant changes proposed to be implemented vide the new Regulations, the article also lists various action points for the stakeholders. The authors also provide their valued comments for each change in this very detailed article. 

Notifications and Circulars
 

• RBI (Non-Banking Financial Companies - Concentration Risk Management) Directions, 2025 amended
   
• RBI (Commercial Banks - Financial Statements: Presentation and Disclosures) Directions, 2025 amended
   
• RBI (Non-Banking Financial Companies - Credit Risk Management) Directions, 2025 amened
   
• RBI (Commercial Banks - Credit Risk Management) Directions, 2025 amended
   
• SEBI notifies compliance reporting formats for Specialized Investment Funds (SIFs)
   
• RBI (Commercial Banks - Prudential Norms on Capital Adequacy) Directions, 2025 amended
   
• Foreign Exchange Management (Guarantees) Regulations, 2026
   
• RBI issues directions for Internal Ombudsman for Commercial Banks and NBFCs
   
• SEBI notifies ‘SWAGAT-FI’ Framework for FPIs and FVCIs
   
• SEBI notifies direct credit of securities in demat account
   
• SEBI notifies special window for transfer and dematerialisation of physical securities

Ratio decidendi
 

• Appellate court under Arbitration Section 37 cannot re-appreciate contractual terms once an arbitral award has been upheld under Section 34 – Supreme Court
   
• Court’s Registry cannot question why a particular party has been impleaded – Supreme Court
   
• Disputes arising from a leave and license agreement governed by a special statute, conferring exclusive jurisdiction, are non-arbitrable notwithstanding existence of arbitration clause – Supreme Court
   
• Arbitral tribunal cannot assume jurisdiction over disputes not referred to in accordance with the contractual dispute resolution mechanism – Supreme Court
   
• Deed of undertaking to arrange funds does not constitute a guarantee or give rise to financial debt under IBC – Supreme Court

News Nuggets
 

• SEBI constitutes working group for market infrastructure technology roadmap
   
• CCI okays Tata Steel’s acquisition of Thriveni Pellets
   
• CCI approves Emirates NBD’ acquisition of RBL Bank
   
• Cabinet approves equity support to SIDBI
   
• RBI and ESMA enter MoU on CCIL recognition
   
• NSE receives SEBI approval for IPO