RBI vide its Notification dated 12th April, 2023 issued to all Authorised Dealers in Foreign Exchange
The Notification states:
AD Category-I banks and AD Category-II entities are invited to read A.P. (DIR Series) Circular dated February 11, 2016 on ‘Compilation of R-Returns: Reporting under FETERS’, which allows AD banks to allow online submission of Form A2. AD Category-II entities will be allowed to submit online Form A2 with the approval of their Board, subject to statutory and regulatory guidelines.
The terms and conditions of A.P. (Dir Series) circular No. 50 dated February 11, 2016 continue to apply to all Authroised Dealers. The relevant provisions of FEMA 1999 and KYC Authorised Dealers can share this circular with their constituents. Direction, 2016 must be complied with by ADs for all transactions.
Authorised Dealers should inform their constituents of the circular.
This circular is issued under the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to any permissions/approvals required under any other law.
link of the circular: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12489&Mode=0
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