Reserve Bank of India has decided that in addition to the existing reporting requirements, all the new entities setting up Liaison Office/Branch Office/Project Office shall also:
i) submit a report containing information as per Annex within five working days of the LO/BO/PO becoming functional to the Director General of Police (DGP) of the state concerned in which LO/BO/PO has established its office; if there are more than one office of such a foreign entity, in such cases to each of the DGP concerned of the state where it has established office in India;
ii) a copy of the report as per Annex shall also be filed with the DGP concerned on annual basis along with a copy of the Annual Activity Certificate/Annual report required to be submitted by LO/BO/PO concerned, as the case may be.
iii) A copy of report thus filed as above shall also be filed with AD by LO/BO/PO concerned.
iv) Existing LO/BO/PO shall henceforth report the information along with the copy of Annual Activity Certificate/ Annual report to DGP of the concerned state and also file a copy of the same with AD Bank.
The aforementioned instructions will come into force with immediate effect.