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of <h1>RBI Discontinues 17 Reports Under FEMA for Easier Business and Lower Compliance Costs per Sections 10(4) & 11(2).</h1> The Reserve Bank of India has decided to discontinue 17 specific returns and reports under the Foreign Exchange Management Act, 1999, to enhance business ease and reduce compliance costs. The changes will be reflected in the Master Direction - Reporting under FEMA, 1999, effective immediately. Authorized banks are instructed to inform their clients of these updates. This decision is pursuant to Sections 10(4) and 11(2) of FEMA, 1999, and does not affect any permissions or approvals required under other laws. The discontinued reports include various transaction statements and investment-related reports previously submitted by authorized banks and financial entities.
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