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RBI/2017-18/41
A .P. (DIR Series) Circular No. 3
August
10, 2017
To
All Authorised Dealer Category -
I Banks
Madam / Sir,
Risk
Management and Interbank Dealings- Reports to the Reserve Bank
Attention of Authorized Dealers
Category – I (AD Category – I) banks is invited to the Foreign Exchange
Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated
May 3, 2000 (Notification
No. FEMA. 25/RB-2000 dated May 3, 2000) and Master Directions on Risk Management and
Inter-Bank Dealings dated July 5, 2016 as amended from time to
time.
2. In terms of para (viii) under
Part-E (Reports to the Reserve Bank) of the aforementioned master
direction, the Head/Principal Office of AD Category-I banks are required to
submit a statement in form BAL giving details of their holdings of all
foreign currencies on fortnightly basis through Online Returns Filing
System (ORFS) within seven calendar days from the close of the reporting
period to which it relates. It has now been decided that w.e.f. August 16,
2017 (i.e. for the statement of first fortnight of August 2017) this
statement may be submitted through the web portal at bop.rbi.org.in as per
the format given in Annexure
I.
3. In terms of para (ii) under
Part-E of the aforementioned master direction, Head/Principal Office of AD
Cat-I banks are required to submit a monthly statement of Nostro/Vostro
account balances. It has now been decided to discontinue this report.
4. 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 is without prejudice
to permissions / approvals, if any, required under any other law.
Yours
faithfully,
(T
Rabi Sankar)
Chief General Manager
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