Liberalised Remittance Scheme reporting now requires monthly submission by AD Category I banks using a prescribed format and deadline. Authorised Dealer Category I banks must, from April 2008, submit monthly statements (using the prescribed annexed format) of applications received and amounts remitted under the Liberalised Remittance Scheme for resident individuals, categorised by purpose, to the Chief General Manager in Charge, Foreign Exchange Department, Reserve Bank of India, so as to reach the office on or before the fifth of the following month; all other earlier terms remain unchanged and the directions are issued under the Foreign Exchange Management Act, 1999.
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Liberalised Remittance Scheme reporting now requires monthly submission by AD Category I banks using a prescribed format and deadline.
Authorised Dealer Category I banks must, from April 2008, submit monthly statements (using the prescribed annexed format) of applications received and amounts remitted under the Liberalised Remittance Scheme for resident individuals, categorised by purpose, to the Chief General Manager in Charge, Foreign Exchange Department, Reserve Bank of India, so as to reach the office on or before the fifth of the following month; all other earlier terms remain unchanged and the directions are issued under the Foreign Exchange Management Act, 1999.
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