Discontinuation of requirement to file Statement for reporting of non-resident guarantees

The RBI vide notification dated June 09, 2022 has provided for Discontinuation of a Return under Foreign Exchange Management Act, 1999. It is clarified that ‘Statement for reporting of non-resident guarantees issued and invoked in respect of fund and non-fund based facilities between two persons resident in India has now been decided to be discontinued with effect from the quarter ending June 2022.

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