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of <h1>Banks to Stop Stat 5 & Stat 8 Returns for NRD Accounts; XBRL Platform Stabilizes Data Submissions from March 2015.</h1> Banks authorized to handle foreign exchange are informed about the discontinuation of Stat 5 and Stat 8 Returns related to Non-Resident Deposits (NRD) accounts. This change follows the stabilization of NRD-CSR data submissions through the XBRL platform. Effective March 2015, banks are no longer required to submit these returns in either hard or soft copies to the Reserve Bank of India's Department of Statistics and Information Management. These instructions are issued under the Foreign Exchange Management Act, 1999, and do not affect any other legal permissions or approvals required.
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