Discontinuation of reporting requirement: authorised dealer banks need not submit invocation reports for service-import bank guarantees but must retain records. Authorised Dealer Category-I banks are directed to discontinue submitting reports of invocation of bank guarantees issued for service imports; they must, however, maintain records of such invocations and furnish details to the Reserve Bank when requested. The Master Direction on reporting under the Foreign Exchange Management Act will be updated to reflect this change, and the circular is issued under Sections 10(4) and 11(1) of the Act.