Economy
RBI Lets Bank Committees Approve Online Form A2 Remittance Guidelines
RBI now allows authorised dealers to approve internal guidelines through designated board or management committees.
What happened
The RBI has widened the approval route for Category I authorised dealer banks and Category II entities handling online or physical Form A2 submissions for outward foreign-exchange remittances. Their internal guidelines may now be approved by the board, a delegated board committee, or a management committee. All other instructions from July 2024 remain unchanged.
Why it matters
Authorised dealers gain a broader internal approval framework for processing Form A2-based remittances, while the RBI’s other existing requirements continue to apply.
Source: RBI Notifications