KYC authorisation change: corporates may use MD/CFO signed official lists instead of board resolutions for forex transactions. The requirement for corporates to submit a Board resolution and a power of attorney for forex transactions has been replaced: a corporate may now submit a list of officials with names, designations and signatures authorised by the Managing Director or Chief Financial Officer to conduct foreign exchange transactions; franchisers remain responsible for ensuring agents and franchisees comply; corporates must pay the rupee leg of forex transactions through the corporate cheque or bank account; other instructions remain unchanged under FEMA and PMLA.