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

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..... rtal Attention of Authorised Dealer Category-I banks (AD banks) is invited to A.P. (DIR Series) Circular No. 30 dated June 07, 2018. 2. It is advised that the following changes are being implemented with respect to the reporting of foreign investment in SMF on FIRMS portal: i. The forms submitted on the portal will be auto-acknowledged. The AD banks shall verify the same within five wo .....

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..... red under any other law. Yours faithfully (N. Senthil Kumar) General Manager-in-Charge Annex Auto-acknowledgement of SMF in FIRMS and online calculation of LSF The forms submitted in FIRMS will now be processed as detailed below: All forms submitted with the requisite documents will be auto-acknowledged on the FIRMS portal with a time stamp and an auto-generat .....

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..... l be communicated to the applicant through a system generated e-mail, which can also be viewed in the FIRMS portal. vi. The AD bank will approve the forms filed with a delay greater than three years, subject to compounding of contravention. The applicant may thereafter approach RBI with their application for compounding. vii. The remarks of the AD Bank for rejection of forms, if any, will be .....

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