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of <h1>New Rules for Reporting Foreign Investment in India: Auto-Acknowledgment, Bank Verification, and Late Fee Guidelines.</h1> The circular addresses changes in the reporting process for foreign investment in India via the Single Master Form (SMF) on the FIRMS portal. Forms submitted will now receive auto-acknowledgment, and Authorized Dealer Category-I banks must verify them within five working days. In cases of delayed reporting, banks will either impose a Late Submission Fee (LSF) or recommend compounding of contravention. The system will calculate the LSF, and applicants will be notified via email. Forms delayed by over three years require compounding. The circular is issued under the Foreign Exchange Management Act, 1999.
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