RBI to shift three divisions of Foreign Exchange Dept to New Delhi

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RBI to shift three divisions of Foreign Exchange Dept to New Delhi
The Reserve Bank of India on Tuesday announced it has decided to shift three divisions of Foreign Investment Division (FID) to New Delhi Regional Office of the Reserve Bank of India with effective from July 15, 2014.

"The RBI has informed banks and other stakeholders that from July 15, 2014, three divisions of (FID) will shift to New Delhi Regional Office of the Reserve Bank of India," the central bank said in a press release.

The divisions which are planned to shift include Liaison/ Branch/Project Office (LO/BO/PO) Division, Non Resident Foreign Account Division (NRFAD) and Immovable Property (IP) Division. The new address of these divisions will be FED, CO Cell, Foreign Exchange Department, Reserve Bank of India, New Delhi Regional Office 6, Parliament Street, New Delhi - 110 00.

The new FED, CO Cell will be headed by P. Shimrah, General Manager, as per the release.

The divisions are at present located at 11th Floor, FED, Central Office Building, Mumbai 400001. The divisions will continue to be part of Foreign Exchange Department, Central Office, Mumbai, it added.

Read more about: rbi
Story first published: Wednesday, June 18, 2014, 12:30 [IST]
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