What changed
- RBI introduces submission of 'LRS daily return' by AD Category-II banks/entities and FFMCs on CIMS.
- AD Category-II banks/entities and FFMCs can check cumulative LRS remittances by resident individuals (PAN-wise) on CIMS.
- AD Category-II banks/entities and FFMCs must submit 'LRS daily return' from January 1, 2026, and discontinue submitting LRS transactions through AD Category-I banks.
What it means for you
- This change aims to enhance transparency and monitoring of LRS transactions by AD Category-II banks/entities and FFMCs.
- Banks and lenders must ensure compliance with the new submission requirements to avoid any potential issues or penalties.
What you must do
- Submit 'LRS daily return' on CIMS from January 1, 2026, and discontinue submitting LRS transactions through AD Category-I banks.
- Follow the instructions in the User Manual for submission of 'LRS daily return' on CIMS.
- Approach the Foreign Exchange Department of the concerned Regional Office of the Reserve Bank of India for resolving any issues related to CIMS onboarding.
Who it affects
AD Category-II banks/entities, Full-Fledged Money Changers (FFMCs), Resident individuals (PAN-wise)
What is the deadline for submitting 'LRS daily return' by AD Category-II banks/entities and FFMCs?
January 1, 2026
Where can I find the User Manual for submission of 'LRS daily return' on CIMS?
Under 'Downloads' on the CIMS portal
Who should I contact for resolving issues related to CIMS onboarding?
Foreign Exchange Department of the concerned Regional Office of the Reserve Bank of India