5 December 2022

Notifications & Circulars

Reserve Bank of India



Reporting of Bank Guarantee on behalf of service importers discontinued


The Reserve Bank of India announced the discontinuation of submission of reports on guarantees issued by banks in favour of non-residents service providers.

The move is seen as reducing another compliance burden. However, Authorised Dealer Category-I banks are advised to continue to maintain such records as the same can be called by RBI.

Tags : rbi bank guarantee service importer reporting requirement

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