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of <h1>RBI Streamlines Overseas Direct Investment Reporting: UIN via Email, Online Reporting Required, Physical Submission for Approval Route.</h1> The Reserve Bank of India has updated the process for online reporting of Overseas Direct Investment (ODI) by Indian parties. Effective June 1, 2012, the Unique Identification Number (UIN) for investments under the automatic route will be communicated via auto-generated email, eliminating the need for a separate confirmation letter. Subsequent remittances must be reported online only after receiving the UIN confirmation email. Applications for investments under the approval route must still be submitted physically, alongside online reporting. These changes are issued under the Foreign Exchange Management Act, 1999, and must be communicated by banks to their clients.
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