RBI reporting requirement: monthly disclosure of Exchange House foreign currency account balances, pipeline debits and certifications by banks Authorized Dealer Category I banks must submit a monthly statement for each Exchange House foreign currency account showing opening and closing balances, total credits and debits, estimated pipeline debits (using a specified averaging method), recent actual payments, funds held abroad as collateral, and surplus or deficit to cover pipeline estimates. The statement must include confirmations that payment advices have been accounted for, that accounts comply with RBI guidelines and contractual terms, that the Nostro/foreign correspondent office has received a copy, and that no adverse reports exist; it must be signed and countersigned by designated bank officers.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
RBI reporting requirement: monthly disclosure of Exchange House foreign currency account balances, pipeline debits and certifications by banks
Authorized Dealer Category I banks must submit a monthly statement for each Exchange House foreign currency account showing opening and closing balances, total credits and debits, estimated pipeline debits (using a specified averaging method), recent actual payments, funds held abroad as collateral, and surplus or deficit to cover pipeline estimates. The statement must include confirmations that payment advices have been accounted for, that accounts comply with RBI guidelines and contractual terms, that the Nostro/foreign correspondent office has received a copy, and that no adverse reports exist; it must be signed and countersigned by designated bank officers.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
