The Reserve Bank of India (RBI) has revised the processing mechanism for overseas investment references, shifting it from the Central Office to designated Regional Offices, with effect from 1st April 2026.
1. Shift from Centralised to Regional Processing
Earlier, such references were handled centrally by the RBI’s Central Office.
Under the revised framework:
- Processing is now decentralised across 7 Regional Offices
- This move aims to improve efficiency, turnaround time, and regional accessibility
2. Designated Regional Offices
Overseas investment references will now be handled by the following RBI Regional Offices:
- Ahmedabad
- Bengaluru
- Mumbai
- Kolkata
- New Delhi
- Hyderabad
- Chennai
3. Submission Through PRAVAAH Portal
Authorised Dealer (AD) Category I banks are required to:
- Submit references only through the PRAVAAH portal
- Route submissions based on UIN (Unique Identification Number) prefix mapping to the respective Regional Office
4. Discontinuation of Central Office Submissions
AD banks should no longer send references to the Central Office, as the entire process is now aligned with the regional allocation system.
5. Objective of the Change
The revised framework aims to:
- Enhance processing efficiency and accountability
- Enable better workload distribution
- Improve ease of compliance for banks
6. Conclusion
The decentralisation of overseas investment reference processing marks a significant step towards streamlined, technology-driven regulatory administration, ensuring faster and more efficient handling of applications.
