Consolidated R-Return reporting option requires bank-wide submission with nodal-branch responsibility for data accuracy and FEMA compliance. Authorised Dealer Category I banks may opt for consolidated bank-wide R-Return submission requiring in-principle Reserve Bank approval, coverage of all branches, and submission of hard-copy cover pages by a designated nodal branch with a reconciled soft-copy file. The nodal branch and authorised signatory bear responsibility for accuracy, completeness and timely submission of FET-ERS data and consistency between hard and soft copies; non-compliance may invite action under Sections 10 and 11 of FEMA.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Consolidated R-Return reporting option requires bank-wide submission with nodal-branch responsibility for data accuracy and FEMA compliance.
Authorised Dealer Category I banks may opt for consolidated bank-wide R-Return submission requiring in-principle Reserve Bank approval, coverage of all branches, and submission of hard-copy cover pages by a designated nodal branch with a reconciled soft-copy file. The nodal branch and authorised signatory bear responsibility for accuracy, completeness and timely submission of FET-ERS data and consistency between hard and soft copies; non-compliance may invite action under Sections 10 and 11 of FEMA.
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