The Reserve Bank of India in a circular dated March 20, 2019, has effected a change in the compilation of estimates of bilateral trade in services. The change is to incorporate an additional field for capturing the country code of ultimate exporter/importer in the BoP file-format under FETERS. In case of export of services, the bank may use the transaction information available with them to report country-code of the ultimate exporting country,
The LMCC R-RETURN application makes it easy to lodge transactions with in-built validations incorporating the latest RBI circular dated March 20, 2019, changes so that Banks can generate returns as per the required updated format in a timely fashion.
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