Module: | MODULE A: INTERNATIONAL BANKING
Q67: Consider the following statements regarding the reporting of LRS transactions to the Reserve Bank of India effective January 1, 2026:
1. Authorized Dealer Category-II entities are required to upload the LRS Daily Return directly onto the CIMS portal.
2. The reporting of LRS transactions must be done on a daily basis.
3. AD Category-II entities can no longer route their LRS transaction data through AD Category-I banks.
Which of the statements given above is or are correct?
2. The reporting of LRS transactions must be done on a daily basis.
3. AD Category-II entities can no longer route their LRS transaction data through AD Category-I banks.
Which of the statements given above is or are correct?
✅ Correct Answer: D
🎯 Quick Answer:
All statements (1, 2, and 3) are correct.The Centralised Information Management System (CIMS) is the RBI's next-generation data warehouse.
Structural Breakdown: The Change (Jan 1, 2026): Previously, smaller entities (AD Category-II, like money changers) reported their data via larger banks (AD Category-I). The RBI Circular mandated that effective January 1, 2026, AD-II entities must report directly to CIMS.
Purpose: This removes the data lag and allows the RBI (and other banks) to see the Real-Time PAN-wise utilization of the limit.
Frequency: The return must be filed Daily.