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RBI Forex dept’s 3 divisions to shift to Delhi from Jul 15

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Three divisions of the Foreign Exchange Department (FED) in the Reserve Bank would shift to New Delhi from mid-July

rbi2Mumbai: Three divisions of the Foreign Exchange Department (FED) in the Reserve Bank would shift to New Delhi from mid-July.

“The Reserve Bank of India has today informed banks and other stakeholders that from July 15, three divisions of Foreign Investment Division (FID) will shift to New Delhi Regional Office of the Reserve Bank of India,” RBI said in a release.

The three divisions to be shifted to New Delhi are Liaison/Branch/Project Office (LO/BO/PO) Division, Non Resident Foreign Account Division (NRFAD) and Immovable Property (IP) Division.

These divisions would be located at Parliament Street office of the RBI.

The new FED, CO Cell will be headed by P Shimrah, General Manager, RBI.

These divisions at present are located at Mumbai. The divisions will continue to be part of Foreign Exchange Department, Central Office, Mumbai, RBI added.

The RBI did not, however, cite any reasons for the shift of these divisions to New Delhi from Mumbai.

PTI

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