| Date: |
16-12-2014
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| Notification No: |
RBI/2014-15/357 A.P. (DIR Series) Circular No.49
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
RBI/2014-15/357 |
| Subject: |
Money Transfer Service Scheme – Delegation of work to Regional Offices-Submission of Statements / Returns
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RBI/2014-15/357
A.P. (DIR Series) Circular No. 49
December 16, 2014
To
All Authorised Persons, who are Indian Agents under Money Transfer Service
Scheme
Madam/ Sir,
Money Transfer Service Scheme– Delegation of work to Regional
Offices-Submission of Statements / Returns
Attention of Authorised Persons, who are Indian Agents under Money Transfer
Service Scheme (MTSS) is invited to the
A.P. (DIR Series) Circular No. 89 dated
March 12, 2013 on Money Transfer Service Scheme – Revised Guidelines, as amended
from time to time.
- In continuation to A.P. (DIR Series) Circular No. 8 dated July 18, 2014,
it is clarified that subsequent to delegation of Money Transfer Service Scheme
(MTSS) work, all Authorised Persons, who are Indian agents under MTSS are
required to make all their correspondence with Reserve Bank including submission
of prescribed statements to the Regional Office of the Foreign Exchange
Department of the Reserve Bank, under whose jurisdiction their registered
offices function. It has been observed that several Indian agents continue to
submit the correspondence / statements to the Central Office, causing avoidable
delays in scrutiny / processing. Thus, the Indian agents are advised to note the
instructions regarding correspondence and submission of statements to the
concerned Regional Office, as mentioned above.
- All other instructions issued vide
A. P. (DIR Series) Circular No. 89 dated
March 12, 2013, as amended from time to time, will remain unchanged.
- Authorised Persons (Indian Agents) may bring the contents of this circular to
the notice of their constituents concerned.
- The directions contained in this circular have been issued under Section
10(4) and Section 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,
(B. P. Kanungo)
Principal Chief General Manager
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