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of <h1>Authorized Dealer Banks no longer need to submit Form ORA; maintain records instead per FEMA sections 10(4) & 11(1).</h1> Authorized Dealer Banks are informed that the requirement to submit Form ORA statements to the Reserve Bank's Regional Offices on a half-yearly basis is discontinued. Instead, Authorized Dealers should maintain records of approvals for opening Trading Offices, Non-Trading Offices, Branch Offices, or Representative Offices abroad. These changes are in accordance with sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, and do not affect any other necessary permissions or approvals under different laws.
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