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of <h1>From 2026, AD Category-II banks and FFMCs must file LRS daily returns directly on CIMS under FEMA Master Direction</h1> The circular mandates that, from January 1, 2026, Authorised Dealer (AD) Category-II banks, entities, and Full-Fledged Money Changers (FFMCs) must directly submit a 'LRS daily return' (including nil reports) on the RBI's Centralised Information Management System (CIMS), similar to AD Category-I banks. These entities will gain CIMS access and can verify the cumulative Liberalised Remittance Scheme remittances of resident individuals on a PAN-wise, financial-year basis before processing further LRS transactions. AD Category-II banks and FFMCs may discontinue routing LRS transaction data through AD Category-I banks. Instructions are available in the CIMS User Manual, and the relevant Master Direction under FEMA will be updated accordingly.
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