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RBI/2007-2008/277
A. P. (DIR Series) Circular No. 36
April 04, 2008
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Liberalised Remittance Scheme for Resident Individuals - Reporting
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to para 6 of A. P. (DIR Series) Circular No.24 dated December 20, 2006, in terms of which AD Category - I banks are required to furnish information on the number of applications received and total amount remitted under the Liberalised Remittance Scheme (the Scheme), on a quarterly basis, in the prescribed format.
- It has now been decided, with effect from April 2008, to collect the information in respect of the Scheme on a monthly basis instead of quarterly basis. Accordingly, beginning from April 2008, AD Category – I banks are required to furnish the information on monthly basis, in the format annexed. The statement should reach the Chief General Manager-in-Charge, Foreign Exchange Department, (FID-EPD), Reserve Bank of India, Central Office, 11th Floor, Central Office Building, Mumbai-400 001, on or before fifth of the following month to which it relates.
- All other terms and conditions mentioned in A. P. (DIR Series) Circular No. 64 dated February 4, 2004, A. P. (DIR Series) Circular No. 24 dated December 20, 2006, A. P. (DIR Series) Circular No. 51 dated May 8, 2007 and A. P. (DIR Series) Circular No.9 dated September 26, 2007, shall remain unchanged.
- The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Salim Gangadharan)
Chief General Manager-in-Charge
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