Release of foreign exchange for miscellaneous remittances
RBI streamlined regulatory compliances and operational procedures by prescribing filing of Form A2 in physical or digital form for all cross-border remittances irrespective of the value of transaction
Online submission of Form A2: Removal of limits on amount of remittance
RBI prescribed that there shall not be any limit on the amount being remitted on the basis of ‘online’ Form A2
Issuance of partly paid units to persons resident outside India by investment vehicles under Foreign Exchange Management (Non-debt Instruments) Rules, 2019
RBI gave an option to regularise issuance of partly paid units by AIFs to PROI which were issued when were not permitted
Draft guidelines – Regulation of Payment Aggregators
RBI has placed on its website draft directions on regulation of PAs
Amendment to Master Direction on Prepaid Payment Instruments
RBI has permitted PPI issuers to issue PPIs for making payments across various public transport systems
Liberalised Remittance Scheme for Resident Individuals- Reporting of monthly return and daily transactions
RBI has rationalised reporting in SMF wherein forms will be auto-acknowledged
Regulation of Payment Aggregator – Cross Border (PA – Cross Border)
RBI bought all entities facilitating cross-border payment transactions for import and export of goods and services under direct regulation of the RBI.
Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS) – Studies Abroad
RBI has permitted remittances by resident individuals for studies abroad under LRS
Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS)
RBI has permitted remittances to IFSCs under the LRS
Authorised Dealers Category-II – Online submission of Form A2
RBI allowed online submission of Form A2