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Foreign Investment in India - Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal - FEMA - 22

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..... forms submitted on the portal will be auto-acknowledged. The AD banks shall verify the same within five working days based on the uploaded documents, as specified. ii. In cases of delayed reporting, the AD banks shall either advise the Late Submission Fee (LSF) to the applicants, which will be computed by the system or advise for compounding of contravention, as the case may be. The salient features of the changes made in the system are given in Annex for ready reference. For detailed guideline .....

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Foreign Investment in India - Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal - FEMA

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..... system would identify the delay in reporting, if any. iii. For forms filed with a delay less than or equal to three years, the AD banks will approve the same, subject to payment of LSF. iv. The LSF will be computed by the system and an e-mail will be sent to the applicant and the concerned Regional Office (RO) of RBI specifying the amount and the timeline within which it is to be paid to the concerned RO of RBI. v. Once the LSF amount is realised, the concerned RO will update the status in the .....

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Foreign Investment in India - Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal - FEMA

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