The central bank said it handled a total of 18,763 applications in May, including pending cases and fresh receipts, after adjusting for those referred back to applicants for additional information.
As many as 2,473 applications were pending at the beginning of May, while 16,865 fresh applications were received during the month. A total of 575 cases were referred back to applicants for additional details, taking the net number of applications for processing to 18,763.
Of these, 16,209 applications were processed during May. As many as 16,193 cases, or 99.9 per cent, were disposed of within the stipulated timeline, while only 16 cases, or 0.1 per cent were cleared beyond the deadline, RBI data showed.
At the end of the month, 2,554 applications remained pending, of which 2,539 cases, or 99.4 per cent were still within the prescribed timeline and 15 cases, or 0.6 per cent were beyond it. Of the delayed cases, 14 were awaiting inputs from external agencies, and one is under process, the RBI said.
Function-wise data showed that ‘Banker to Banks and Governments’ and ‘Currency Management‘ accounted for the bulk of applications. Under ‘Banker to Banks and Governments’, 7,602 applications were processed, all within the timeline. In ‘Currency Management’, 6,261 applications were cleared within time and 703 beyond it, data showed.Also Read: RBI sees services exports, remittances cushioning current account in FY27
In ‘Foreign Exchange Management’, 1,158 applications were processed within the timeline and 7 beyond it, with 1,021 cases pending within the deadline and 15 beyond it. Under ‘Regulation and Supervision’, 547 cases were processed within time and 6 beyond it, while 647 remained pending within the timeline.