Please refer to the announcement made in para 10 of Part II of the First Bi Monthly Monetary
Policy Statement 2018-19 dated April 05, 2018.
2. Currently, transactions under Liberalised Remittance Scheme (LRS) are being permitted
by AD banks based on the declaration made by the remitter. The monitoring of adherence to
the limit is confined to obtaining such a declaration without independent verification, in the
absence of a reliable source of information.
3. In order to improve monitoring and also to ensure compliance with the LRS limits, it has
been decided to put in place a daily reporting system by AD banks of transactions
undertaken by individuals under LRS, which will be accessible to all the other ADs.
4. Accordingly, from the date of issue of this circular, all AD Category-I banks are required to
upload daily transaction-wise information undertaken by them under LRS at the close of
business of the next working day. In case no data is to be furnished, AD banks shall upload
a ‘Nil’ report. AD banks can upload the LRS data as CSV file (comma delimited), by
accessing XBRL site through the URL https://secweb.rbi.org.in/orfsxbrl/ as hitherto.
5. The directions contained in this circular have been issued under Sections 10(4),
11(1) and 11(2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are
without prejudice to permissions/approvals, if any, required under any other law.
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 100,000 Members, Free/Easy/Comfortableway
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 100,000 Members, Free/Easy/Comfortableway