Thursday, July 19 2018

May 6, 2018

NRI investment reporting to RBI to continue even new monitoring system

Mumbai: Central bank said that reporting by custodian banks on the foreign customers investment including NRIs, in listed companies would continue even after the new monitoring system is implemented. Reserve Bank of India notified that Upon implementation of the new monitoring system, all Authorised Dealer banks would be required to provide the details of investment made by their respective NRI customers to the depositories in the format as provided by the depositories.In addition, the reporting to RBI in the existing system, would continue.