In this article, we have discussed recent amendments made in FEMA through A. P. (DIR Series) Circulars issued by the RBI & Press Note issued by the DPIIT (Ministry of Commerce and Industry). A. AP DIR Series Circular issued by the RBI Payment of margins for transactions in Government Securities by Foreign Portfolio InvestorsAll transactions in government securities concluded outside the recognized stock exchanges are settled on a guaranteed basis by the Clearing Corporation of India Ltd. (CCIL) which acts as the central counter party. Based on requests received, RBI has allowed AD Category 1 Banks to lend to FPIs in accordance with their credit risk management frameworks for the purpose of placing margins with CCIL in respect of settlement of transactions involving Government Securities (including Treasury Bills and State Development Loans) by the FPIs. (Source: .......