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RBI/2020-21/66 A.P. (DIR Series) Circular No. 05 November 13, 2020 To All Authorised Persons Madam/Sir Discontinuation of Returns/Reports under Foreign Exchange Management Act, 1999 The attention of Authorised Persons is invited to theMaster Direction - Reporting under Foreign Exc
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FAQ :
The RBI has discontinued these reports to improve the ease of doing business and reduce the cost of compliance for authorised persons.
A total of 17 returns/reports have been discontinued.
These reports are related to the Foreign Exchange Management Act, 1999 (FEMA, 1999).
Yes, the Master Direction on Reporting under the Foreign Exchange Management Act, 1999, will be updated to reflect these changes.
AD banks are requested to bring the contents of this circular to the notice of their constituents.
No, only the hardcopy filing of Form DRR has been discontinued; domestic custodians may continue to report it on the FIRMS application.
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