Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
The central bank mandates that, from January 1, 2026, Authorised Dealer Category-II banks, entities, and full-fledged money changers must directly submit a "LRS daily return" (including nil returns) on the Centralised Information Management System. They will gain CIMS access to verify cumulative PAN-wise remittances under the Liberalised Remittance Scheme in the current financial year before processing further transactions. Consequently, these entities may stop routing LRS transaction reporting through Authorised Dealer Category-I banks. All authorised persons must follow the CIMS user manual and may approach the relevant regional foreign exchange department for operational issues. The Master Direction on FEMA reporting will be updated accordingly.
The central bank mandates that, from January 1, 2026, Authorised Dealer Category-II banks, entities, and full-fledged money changers must directly submit a "LRS daily return" (including nil returns) on the Centralised Information Management System. They will gain CIMS access to verify cumulative PAN-wise remittances under the Liberalised Remittance Scheme in the current financial year before processing further transactions. Consequently, these entities may stop routing LRS transaction reporting through Authorised Dealer Category-I banks. All authorised persons must follow the CIMS user manual and may approach the relevant regional foreign exchange department for operational issues. The Master Direction on FEMA reporting will be updated accordingly.
Note: It is a system-generated summary and is for quick reference only.
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