Whether purpose code is to be used and who is responsible for FETERS reporting? - FEMA - FAQ - FEMA

Ans. (A) The regulatory reporting under FETERS (R Return) will be undertaken by the Bank maintaining SNRR A/c. (B) Any credit / debit to / from an SNRR account from / to an offshore account of the non-resident entity holding the SNRR account will be reported under AD bank transfer. (C) Any credit / debit to / from an SNRR account from / to a domestic (Indian) party will be reported basis underlying transaction (import, export, Trade Credit, services, ECB, etc). Please note that bank holding SNRR account shall follow the reporting procedure as applicable to other INR Vostro accounts held by it. Please also refer to A.P. (DIR Series) Circular No. 25 March 20, 2019 on Compilation of R-Returns: Reporting under FETERS.