RBI asks banks, firms to divulge more data on forex
The Reserve Bank of India (RBI) on Thursday told banks to share data with the Directorate of Revenue Intelligence. The directive was in compliance with a notification by the Customs department on december 14, 2017 that said banks must share all data regarding forex transactions of any individual. The RBI said banks should start following it with immediatie effect. The RBI also said a new format wil be released to motion foreign investments in listed indian firms.
The Business Standard, New Delhi, 04th May 2018