RBI Mandates Quarterly Reporting for Money Transfer Agents via New Portal, Replacing Previous Submission Method.

The Reserve Bank of India has mandated that all Authorised Persons acting as Indian Agents under the Money Transfer Service Scheme (MTSS) submit quarterly statements through the Centralised Information Management System (CIMS) portal starting from the quarter-ending March 2024, replacing the previous requirement of submission through the eXtensible Business Reporting Language (XBRL) platform. - NIL return is also mandatory in case of no transaction. .....

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