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of <h1>RBI Ends Half-Yearly Sub Agent List Submission for MTSS; Immediate Updates Now Required Under FEMA 1999.</h1> The circular issued by the Reserve Bank of India (RBI) addresses Authorised Persons (Indian Agents) under the Money Transfer Service Scheme (MTSS). It announces the discontinuation of the requirement to submit a half-yearly list of Sub Agents to the Foreign Exchange Department's Central Office. Instead, agents must immediately inform the relevant Regional Offices and the Forex Markets Division of any changes to their Sub Agents. They are also required to regularly verify the list of Sub Agents on the RBI website and confirm its accuracy within 15 days after each quarter. The circular is issued under the Foreign Exchange Management Act, 1999.
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