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Introducing the “In Favour Of” filter in Case Laws.
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<h1>RBI Launches Online System for Reporting Share Transfers Under FDI Scheme via e-Biz Platform; Manual Method Still Available.</h1> The Reserve Bank of India (RBI) has introduced an online system for reporting Foreign Currency Transfer of Shares (FCTRS) under the Foreign Direct Investment (FDI) scheme via the e-Biz platform. This initiative, part of the Government of India's e-Biz project, allows for easier reporting of share transfers between residents and non-residents of India. Authorized Dealer Category-I banks must verify and upload completed forms for RBI processing. This online system is an additional option to the existing manual reporting method, which remains in effect. Banks are instructed to assist customers with this process and access the platform through a VPN account.