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of <h1>Monthly Reporting Required for Banks on Remittances Under Liberalised Scheme; Submit by 5th Each Month Starting April 2008.</h1> The circular addresses Category-I Authorised Dealer Banks regarding changes in reporting requirements under the Liberalised Remittance Scheme for Resident Individuals. Previously required on a quarterly basis, banks must now submit information monthly, starting April 2008. Reports detailing the number of applications and total amounts remitted must be sent to the Reserve Bank of India's Foreign Exchange Department by the fifth of the following month. All other conditions from previous circulars remain unchanged. This directive falls under the Foreign Exchange Management Act, 1999, and does not affect any other necessary permissions or approvals.
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