RBI imposed a penalty of ₹36,38,000/ on HSBC Limited under Section 11(3) of FEMA, 1999, for violation of Reserve Bank of India’s instructions on reporting requirements under Liberalised Remittance Scheme (LRS) of FEMA, 1999.
.jpeg)
RBI Press Release: 2024-2025/399
Date - 29 May 2024
💁🏻♀️
RBI Direction on Liberalised Remittance Scheme (LRS) for Resident Individuals - Reporting of monthly return and daily transactions.
Link to the full post ⬇️
RBI Portal 🧑🏻💻 fema.rbi.org.in
OZG Website 💁🏻♀️ fema.rbi.ozg.in
OZG Advisory Email 📬 ask@fema.in
.jpeg)