| Date: |
25-02-2008
|
| Notification No: |
RBI A P D (Series)Circular No 30/2008
|
| Issuing Authority: |
RBI
|
| Type: |
A.P.D.(Series) Circulars
|
| File No: |
RBI/2007- 2008/246 |
| Subject: |
Compilation of Bank-wide consolidated R-Return
|
|
RBI/2007- 2008/246
A. P. (DIR Series) Circular No. 30
February 25, 2008
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
Compilation of Bank-wide consolidated R-Return
Attention of Authorised Dealer Category - I (AD Category I) banks is invited to A. P. (DIR Series) Circular No.10 dated October 23, 2006, in terms of which in addition to the existing system of submission of branch-wise R-Return, AD Category – I were provided with an option to submit bank-wide R-Return. Accordingly, with effect from the first fortnight of November 2006, AD Category - I banks, having the facility for centralised processing of the data on foreign exchange transactions, could exercise the option of submitting bank-wide R-Return. Further, AD Category – I banks not exercising the option of submission of bank-wide R-Return were advised to initiate necessary steps and create requisite infrastructure for a smooth transition from branch-wise to bank-wide submission of R-Return since the existing system of submitting branch-wise R-Return would eventually be phased out and all AD Category - I banks would be required to switch over to the new system of submission of bank-wide R-Return.
- It has now been decided to stipulate a time limit for transition from branch-wise to bank-wide submission of R-Return. Accordingly, all AD Category - I banks will be required to submit bank-wide R-Return from the first fortnight of January 2009.
- The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the FEMA 1999 (42 of 1999).
Yours faithfully,
(Salim Gangadharan)
Chief General Manager
|
|
|