Discontinuation of return under Foreign Exchange Management Act removes non resident guarantee reporting obligation for authorised dealer banks. The circular announces the discontinuation of the return 'Details of guarantee availed and invoked from non-resident entities,' removing the reporting obligation for Authorised Persons/Authorised Dealer banks effective from the quarter ending June 2022; the relevant Master Directions will be amended and AD banks are to notify their constituents, with the directions issued under FEMA regulatory powers and without prejudice to other statutory permissions.
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Discontinuation of return under Foreign Exchange Management Act removes non resident guarantee reporting obligation for authorised dealer banks.
The circular announces the discontinuation of the return "Details of guarantee availed and invoked from non-resident entities," removing the reporting obligation for Authorised Persons/Authorised Dealer banks effective from the quarter ending June 2022; the relevant Master Directions will be amended and AD banks are to notify their constituents, with the directions issued under FEMA regulatory powers and without prejudice to other statutory permissions.
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