Liberalised Remittance Scheme

Liberalised Remittance Scheme (LRS) Reporting

Currently, transactions under Liberalised Remittance Scheme (LRS) are being permitted by AD banks based on the declaration made by the remitter. The monitoring of adherence to the limit is confined to obtaining such a declaration without independent verification, in the absence of a reliable source of information.

In order to improve monitoring and also to ensure compliance with the LRS limits, it has been decided to put in place a daily reporting system by AD banks of transactions undertaken by individuals under LRS, which will be accessible to all the other ADs.

RBI LRS Reporting

Kyzer uses its regulation technology to make it easier and cost effective for banks to comply with regulatory reporting to Reserve Bank of India, Directorate of Revenue Intelligence, Financial Intelligence Unit of India and other compliance obligations. 

Through TFRS, our regulation platform, banks report millions of transactions a day to comply with these regulations as well as use this data to gain visibility into their organizations and make informed business decisions.

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Automate all of your regulatory reportings to government bodies in one Regulatory Suite platform.

LRS Solution Features

Consolidation of Customer Transactions for Reporting

Monthly Reporting of Customer LRS transactions with consolidated amounts and purpose codes

Detailed Transaction Audit trail Management

Detailed Record Management of any information / documentation, on the basis of which the transaction was undertaken for verification by the Reserve Bank

Web Based Portal accessible across the bank departments

Request and Response between browser and Server is Encrypted. 

Portal Flexible and Customisable with Pull and Push API Features

Master Data Management

Customized Data Extraction utility offers Customer / User Data Management.

API /Scheduler based data fetch

Why Banks Choose Kyzer Us

Compilation & Reconciliation

Automated compliance, reconciliation & reporting for Trade Transactions across all platforms

Regulatory Reports Business Intelligence

Customization to Automated Reports, Kyzer also provides Business Intelligence for improving Customer eXperience / TAT

RBI Portal Master Management

Masters management within the solution offers validations to ensure optimum accuracy of reporting.

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