Liberalised Remittance Scheme reporting changed: monthly return discontinued and daily transaction-wise uploads now required under LRS. AD Category I banks shall discontinue submission of the LRS monthly return (Return code: R089) and instead upload transaction wise LRS data daily (CIMS return code: R010) at the close of business of the next working day; a 'NIL' report must be uploaded if no data exists. Earlier circular instructions are withdrawn and the Master Direction on Reporting under FEMA, 1999 will be updated. Directions are issued under Section 10(4) and Section 11(1) of the Act.
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Liberalised Remittance Scheme reporting changed: monthly return discontinued and daily transaction-wise uploads now required under LRS.
AD Category I banks shall discontinue submission of the LRS monthly return (Return code: R089) and instead upload transaction wise LRS data daily (CIMS return code: R010) at the close of business of the next working day; a 'NIL' report must be uploaded if no data exists. Earlier circular instructions are withdrawn and the Master Direction on Reporting under FEMA, 1999 will be updated. Directions are issued under Section 10(4) and Section 11(1) of the Act.
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