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Compilation of R-Returns Reporting under FETERS

FEMA - 50 - Dated:- 11-2-2016 - RBI/2015-16/317 A.P. (DIR Series) Circular No. 50 February 11, 2016 To, All Authorised Dealers in Foreign Exchange Madam / Sir, Attention of Authorised Dealer (Category I) banks is invited to A.P.(DIR Series) Circular No.84 dated February 29, 2012 giving guidelines for compilation of R-Returns for reporting under the Foreign Exchange Transactions Electronic Reporting System (FETERS), A.P.(DIR Series) Circular No.101 dated February 4, 2014 on Export of Goods and Se .....

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in data submission and further improve data quality, the following modifications shall be effected in the guidelines for submission of data under the FETERS from 1st fortnight of April 2016 (i.e., reporting of those transactions which take place from April 1, 2016): The present email-based submission will be replaced by web-portal based data submission. However, there are no changes in periodicity, file-layout, delimiter, consistency checks, and inter-relationship among BOP6.TXT and QE.TXT file .....

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lidators are provided: Use of Java-based validator is advised for larger files. This portal also gives relevant master files (e.g., country, currency, AD code, purpose code masters). On uploading validated files, banks will get acknowledgment. They can view the data-files submitted by them during the previous two fortnights, with download facility. They can also revise the purpose codes for transaction submitted earlier, if required, which will be authenticated by RBI in the system. Banks may re .....

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ed. Revision in Form A2 3. Further, in-order to streamline the reporting of the transactions relating to the Liberalised Remittance Scheme (LRS) in FETERS and On-line Return Filing System (ORFS), it has been decided that transactions relating to LRS may be reported under respective FETERS purpose codes (e.g. travel, medical treatment, purchase of immovable property, studies abroad, maintenance of close relatives; etc.) instead of reporting collectively under the purpose code S0023. This would he .....

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. For facilitating the existing monthly reporting of LRS transactions under ORFS, AD banks may use the following purpose codes only: Sr. No. Items under LRS Corresponding FETERS purpose codes, if transaction is identified under LRS 1 Opening of foreign currency account abroad with a bank under LRS S0023 2 Purchase of immovable property S0005 3 Investment in equity, debt, JV, WoS, ESOPs, IDRs S0001, S0002, S0003, S0004, S0021, S0022 4 Gift S1302 5 Donations S1303 6 Travel (business, pilgrimage, m .....

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ck-box for LRS transactions in the relevant block as follows: Sr. No. Whether under LRS (Yes/No) Purpose Code Description As per the Annex iv. Further, the Application cum Declaration for purchase of foreign exchange under the Liberalised Remittance Scheme of USD 250,000 has been clubbed with Form A2 in order to reduce multiplicity of forms to be filled in by the customers. Online submission of Form A2 by the remitter 4. With a view to facilitating miscellaneous remittances and reducing paperwor .....

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