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EFT[Paragraph 11 D.2]Statement of Remittance of Fees/ Remuneration to foreign nationalsInstructions:1. The statement should be completed in duplicate and submitted to an authorized dealer in foreign
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01
Obtain a copy of the EFT-Reserve Bank form.
02
Fill in your personal information, including your full name, address, and contact details.
03
Provide the details of the recipient, such as their name, address, and bank account information.
04
Indicate the purpose of the EFT transaction and the amount of money being transferred.
05
Sign and date the form to confirm your agreement with the transaction details.
06
Submit the completed form to the designated authority at the Reserve Bank for processing.

Who needs eft - reserve bank?

01
Anyone who wants to transfer funds electronically to an account held at the Reserve Bank would need to fill out an EFT-Reserve Bank form.

What is EFT - Reserve Bank of India Form?

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EFT stands for Electronic Funds Transfer. The Reserve Bank is the central bank of a country which controls the monetary policy and regulates the banking system.
Financial institutions and banks are required to file EFT reports to the Reserve Bank.
EFT reports can be filled out electronically through the specified reporting system provided by the Reserve Bank.
The purpose of EFT reports to the Reserve Bank is to monitor and regulate the flow of electronic funds within the banking system.
EFT reports must include details of electronic fund transfers, including sender and receiver information, amount transferred, and purpose of the transfer.
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