Current Affairs · Banking & Financial Regulations
Regarding the revised protocols and compliance requirements for reporting External Commercial Borrowings (ECB), which of the following statements is/are correct? 1. Authorised Dealer Category I banks are mandated to submit thoroughly verified ECB returns to the Reserve Bank of India within exactly 7 calendar days of receipt. 2. The Late Submission Fee (LSF) is payable to the RBI Regional Office only after the Reserve Bank of India acknowledges the receipt and provides specific instructions. 3. Banks are explicitly responsible for monitoring customer compliance regarding Late Submission Fee (LSF) payments and informing them about the revised rules. 4. These specific instructions and reporting timelines are issued under the legal authority provided to the RBI under the Reserve Bank of India Act, 1934. Select the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, and 4 only
- 21 and 4 only
- 32, 3, and 4 only
- 41, 2, and 3 only✓
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1, 2, and 3 only
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