Cash transaction limits revised: new reporting triggers for bank draft purchases, cash deposits and foreign travel payments. Rule 114B is amended to lower the monetary threshold in clause (e) and to add three reportable cash transaction categories: cash purchase of bank drafts/pay orders/banker's cheques from specified banking companies aggregating a daily amount; cash deposits with specified banking companies aggregating a daily amount; and cash payments for foreign travel exceeding a prescribed single-payment amount, with an explanation defining travel-related cash payments and exclusions. Proviso cross-references are extended to include the new clauses. Rule 114C is amended to update sub-rule references to reflect the expanded clause range.
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Cash transaction limits revised: new reporting triggers for bank draft purchases, cash deposits and foreign travel payments.
Rule 114B is amended to lower the monetary threshold in clause (e) and to add three reportable cash transaction categories: cash purchase of bank drafts/pay orders/banker's cheques from specified banking companies aggregating a daily amount; cash deposits with specified banking companies aggregating a daily amount; and cash payments for foreign travel exceeding a prescribed single-payment amount, with an explanation defining travel-related cash payments and exclusions. Proviso cross-references are extended to include the new clauses. Rule 114C is amended to update sub-rule references to reflect the expanded clause range.
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