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November 2013

A. P. (DIR Series) Circular No. 60 dated 1st October, 2013

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
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Export Outstanding Statement (XOS) – Online Bank wide Submission

Presently, banks are required to furnish a consolidated statement in Form XOS giving details of all export bills outstanding beyond six months from the date of export on a half yearly basis as at the end of June and December every year to the concerned Regional Office of RBI.

This circular states that with effect from the half year ending December 2013, XOS has to be submitted online and Bank-wide with RBI, instead of the present system of branch-wise submission through the respective Regional Offices of RBI. For this purpose Banks have to designate a Nodal Branch which will submit the XOS data online for the Bank as a whole to RBI.

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