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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Updates Non-Resident Deposits Reporting: New Format Requires Monthly Electronic Submissions Under FEMA 1999.</h1> The circular addresses authorized dealers in foreign exchange regarding the revised Non-Resident Deposits-Comprehensive Single Return (NRD-CSR) Version 2.1, effective from August 2004. It outlines changes to the reporting system, including capturing high-value transactions, adding new data items, and modifying existing ones. The revised format requires monthly electronic submissions of data on non-resident deposits to the Reserve Bank of India (RBI). The circular specifies technical details for data submission and provides instructions for installing the revised system. The directives are issued under the Foreign Exchange Management Act, 1999.
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