RBI Discontinues the Practice of Forwarding Statement in Form ORA to Regional Office by Authorized Dealers

[Ref: A.P. (DIR Series) Circular No. 50 dated 20 September 2013]

Subject: Opening of Trading Office / Non-Trading Office / Branch Office/ Representative Office abroad

Attention of Authorized Dealers (AD) is invited to A. P. (DIR Series) Circular No. 39 dated April 20, 2002 in terms of which statement in Form ORA was to be submitted to the Regional Offices of Reserve Bank on half yearly basis instead of on a monthly basis by the Authorized Dealers.

2. On a review, it has been decided to discontinue the practice of forwarding the statement in Form ORA to the respective Regional Office of Reserve Bank by the Authorized Dealers. Authorized Dealers may, however, continue to maintain the particulars of approvals granted for opening of Trading Office / Non-Trading Office / Branch Office/ Representative Office at their end.

3. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.