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Foreign Exchange Management Act, 1999 - Guidelines for Compilation of R-Returns, RBI A P D (Series)Circular No 77/2003, 13-03-2004


Date: 13-03-2004
Notification No: RBI A P D (Series)Circular No 77/2003
Issuing Authority: RBI  
Type: A.P.D.(Series) Circulars
File No:
Subject: Foreign Exchange Management Act, 1999 - Guidelines for Compilation of R-Returns

Attention of Authorised Dealers (ADs) is invited to A.P.(DIR Series) Circular No.76 dated February 3, 2003, in terms of which they are required to submit R-Return (NOSTRO) and R-Return (VOSTRO) in hard copy together with transaction details in (FET-ERS - Version 5.0) in floppy.

2. The R-Return formats have been updated and enclosed as Annexures I (NOSTRO) and IA (VOSTRO). Authorised Dealers may please note the changes involving the deletion of Items Nos. I-H & II-H - Notional sale & Notional purchase and Item No. V - Aggregate Balance in R-Return (NOSTRO). They may also note that on crystallisation/cancellation of Export Bills Purchased/Negotiated/Discounted, the transaction has to be included under Item IC (i)/(ii). The list of revised purpose codes for purchase, sale transactions and also a list of purpose codes to be used for filling up the cover page of R-Return are enclosed as Annexure II, Annexure III & Annexure IV.

3. It has also been decided to simplify the procedures and documentation formalities in respect of non-import remittances. Accordingly, in consultation with FEDAI, the A-2 form has been modified to incorporate the application form and the declaration in terms of Section 10(5) of FEMA, 1999 and the specimen form is enclosed as Annexure V. The customer will be required to submit only this form in respect of permissible transactions pertaining to individuals up to a limit of USD 5000 as per our AP DIR circular No 55 dated 23 Dec 2003. The AD will fill up the reverse of the form which contains purpose-wise codes. For undertaking transactions under the Liberalised Remittance Scheme of USD 25000 for resident individuals, ADs may be guided by the instructions conveyed in our AP DIR No 64 dated February 4, 2004. As regards other transactions, apart from Form A2 as at Annexure V, the AD may call for additional information and documents as may be required. In respect of regular corporate customers, the bank may like to obtain one-time declaration under FEMA as per the proforma given in Annexure VI. The objective behind these steps is to extend hassle-free service to all customers.

4. Authorised Dealers are required to submit R-Return (NOSTRO) and R-Return (VOSTRO) as per the updated formats in hard copy along with FET-ERS floppy on fortnightly basis with effect from April 1, 2004.

5. The officials of the Authorised Dealers have been imparted training by the Reserve Bank on the new FET-ERS (Version 6.1) package, which has been revised comprehensively incorporating new purpose codes for various foreign exchange transactions. The package containing the new version will be made available / distributed to all ADs by the Bank shortly. Authorised Dealers may please arrange for training the officials of the remaining branches so that the foreign exchange transactions may be reported with new purpose codes through the revised FET-ERS (Version 6.1) from April 1, 2004.

6. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).

Yours faithfully,

Grace Koshie
Chief General Manager


Annexure I

R-RETURN (NOSTRO) _______________________________|   |   |   |

(CURRENCY NAME) (SWIFT Currency Code)                    

Return for the period ended
(DD-MM-YYYY in Numerals)

(To be submitted fortnightly, as at the close of business on the 15th and the last day of each month)


Name of AD ______________________________________ AD Code No. _____________________________
Address of AD _____________________________________________________________________________
Licence No._______________________________________ Serial No. ________________________________

(Amounts to be rounded off to the nearest unit of the currency)

I. Outflows.

    A. Sales to Public against Imports into India

         (i) Below equivalent of Rs. 5 lakh            ___________________

         (ii) Equivalent of Rs. 5 lakh and above     ___________________

                   Total of IA (i) and IA (ii)             _________________

    B. Sales to Public against Imports into other countries
    ___________________
              (i.e. Intermediary Trade)

    C. Sales to Public for purposes other than Imports

         (i) Below equivalent of Rs. 5 lakh            ___________________

         (ii) Equivalent of Rs. 5 lakh and above     ___________________

                   Total of IC (i) and IC (ii)             ___________________

    D. Sales to other Authorised Dealers in India
    ____________________
    Total Outflows (Total of IA, IB, IC and ID) ___________________
      ____________________________________________________________________________________________
    (For �A� Category Branches only)

    *
    * E. Sales to Reserve Bank of India
    ___________________

    *
    * F. Sales to overseas banks and branches
    ___________________
    *
    * G. Aggregate sales at Branches (Reporting directly to Reserve Bank)
    *     by adjustment through Head Office/Link Office
    __________________
    *____________________________________________________________________________________

    Total of I A to I G     ___________________       

II. Inflows.

    A. Purchases from Public against exports

      (i) Against GR/PP/SOFTEX Forms/SDF of which
        (a) Bills negotiated under L/C and
             bills purchased & discounted _________________

        (b) Bills for collection realised     _________________

      (ii) Advance receipts which will be covered
           later by GR/PP/SOFTEX Forms/SDF _________________

      Total of II A(i)(a), II A(i)(b) & II A(ii) __________________

    B. Purchases from Public against third country exports (i.e.
         intermediary trade not covered by GR/PP/SOFTEX Forms/SDF )

    _________________

    C. Purchases from Public other than against exports
      (i) Below equivalent of Rs.5 lakh         __________________

      (ii) Equivalent of Rs. 5 lakh and above __________________

      Total of II C (i) and II C (ii)            __________________
    D. Purchases from other Authorised Dealers in India
    __________________

    Total Inflows (Total of IIA, IIB, IIC and IID ) __________________

    _______________________________________________________________________________

    (For �A� Category Branches only)

    *
    * E. Purchases from Reserve Bank of India
    __________________

    *
    * F. Purchases from overseas banks and branches
    __________________

    *
    * G. Aggregate purchases at branches (Reporting directly to
    *     Reserve Bank) by adjustment through Head Office/Link Office
    __________________

    ____________________________________________________________________________________

    Total of IIA to IIG     _______________          

    Items III C to III H and IV C to IV H on the following page are for �A� category branches only.

    Balances against various accounts are to be shown as per respective mirror accounts maintained locally.


Amount
-----------------------------
Debit Credit




III. Opening Balance
      (closing balance of previous period)


      A. Cash Balance
________________

__________________
      B. Suspense Account Balance
________________

__________________
      C. Deposits with other Authorised Dealers in India
________________

__________________
      D. Deposits with Reserve Bank of India
________________

_________________
      E. Fixed Deposits
________________

__________________
      F. Treasury Bills/Treasury Deposits
________________

__________________
      G. Securities and Shares
________________

__________________
      H. Foreign Currency Loan (Outstanding)
________________

__________________
            Total of IIIA to IIIH
________________

__________________
IV. Closing Balance

      A. Cash Balance
________________

__________________
      B. Suspense Account Balance
________________

__________________
      C. Deposits with other Authorised Dealers in India
________________

__________________
      D. Deposits with Reserve Bank of India
________________

__________________
      E. Fixed Deposits
________________

__________________
      F. Treasury Bills/Treasury Deposits
________________

__________________
      G. Securities and Shares
________________

__________________
      H. Foreign Currency Loan (Outstanding)
________________

__________________
            Total of IVA to IVH
________________

__________________


Note : Authorised Dealers should ensure that
           Opening Balance + All Inflows - All
           Outflows tally with Closing Balance.


We hereby certify that

    (a) the figures reported in the above Return are true and correct;

    (b) all the transactions effected by us and by our branches not submitting independent Returns during the reporting period to which this Return relates have been reported in this Return;

    (c) no remittance forms and GR/PP/SOFTEX forms/SDF pertaining to any of the previous reporting periods or the current reporting period are outstanding with us;

    (d) all the Returns pertaining to the earlier periods have been submitted to the Reserve Bank and

    (e) the transactions of the offices/branches which are independently submitting Returns and adjusting through Head Office/Link Office account with us have been incorporated as branch sales/purchases in our Return.

Stamp

#

__________________________
Seal

(Signature)

Name___________________________
Date_________________

Designation

___________________________

[# This certificate must invariably be signed by the official holding the charge of the branch
    or by person of status not lower than that of Scale IV Officer.]


Annexure IA

R-RETURN (VOSTRO) _______________________|   |   |   |

					(Currency Name)	(SWIFT Currency Code)

			Return of operations of VOSTRO ACCOUNTS for the period ended .
									(DD-MM-YYYY in Numerals)
		(To be submitted, as at the close of business on the 15th and the last day of each month)

Name and address__________________________________	A.D.Code No. _______________________
of the Authorised __________________________________	Licence No. ________________________
Dealer  ___________________________________________	Serial No. of the Return_______________

(Amount to be rounded off to the nearest unit of the currency)



Name, Place and Country of bank branch or Correspondent Opening Balance Credits Debits Closing Balance
Transactions with Public
Funding transactions Total Credits Transactions with Public
Withdrawal Transaction Total Debits
Imports
Others
(3) +
(4) +
(5)
Exports Payments to Public
(7) +
(8) +
(9) +
Below Rs. 5 lakh Rs.5 lakh & above




Below Rs.5 lakh




Rs.5 lakh & above




Below Rs.5 lakh




Rs.5 lakh & above

(1) (2) (3)
(4)
(5) (6) (7) (8)
(9) (10) (11)
(a) (b) (a) (b) (a) (b)

A) Banks
Sub-Total (A)
B) Private Exchange Houses
Sub-Total (B)
GRAND TOTAL


We hereby certify that (a) the figures reported in the above Return are true and correct;

(b) all the transactions effected by us and by our branches on the non-resident bank accounts maintained by us during the reporting period to which this Return relates have been reported in this Return;

(c) no remittance forms and GR/PP/SOFTEX/SDF pertaining to any of the previous periods or the current period are outstanding with us;

(d) all the R-Returns pertaining to the earlier periods have been submitted to the Reserve Bank.

# Signature_________________________________
Name and Designation of Authorised Official
Name of the AD & Branch

STAMP
Place________________________

[ # This certificate must invariably be signed by the official holding charge
of the branch o r by a person of status not lower than Scale IV Officer]


Annexure II

NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS RECEIPT PURPOSES


Group No. Purpose Group Name Purpose Code Description
00 Capital Account P0001 Repatriation of Indian investment abroad in equity capital (shares)
P0002 Repatriation of Indian investment abroad in debt securities.
P0003 Repatriation of Indian investment abroad in branches
P0004 Repatriation of Indian investment abroad in subsidiaries and associates
P0005 Repatriation of Indian investment abroad in real estate
P0006 Foreign direct investment in India in equity
P0007 Foreign direct investment in India in debt securities
P0008 Foreign direct investment in India in real estate
P0009 Foreign portfolio investment in India in equity shares
P0010 Foreign portfolio investment in India in debt securities including debt funds
P0011 Repayment of loans extended to Non-Residents
P0012 Loans from Non-Residents to India
POOH Receipts o/a Non-Resident deposits (FCNRB/NRERA etc.) ADs should report these even if funds are not "swapped" into Rupees.
P0015 Loans & overdrafts taken by ADs on their own account. (Any amount of loan credited to the NOSTRO account which may not be swapped into Rupees should also be reported)
P0016 Purchase of a foreign currency against another currency.
P0017 Sale of intangible assets like patents, copyrights, trade marks etc. by Indian companies
P0018 Other capital receipts not included elsewhere
01 Exports (of Goods) P0101 Value of export bills negotiated /purchased/discounted etc. (covered Group under GR/PP/SOFTEX/EC copy of shipping bills etc.)
P0102 Realisation of export bills (in respect of goods) sent on collection (full invoice value)
P0103 Advance receipts against export contracts (export of goods only)
P0104 Receipts against export of goods not covered by the GR/PP/SOFTEX/EC copy of shipping bill etc.
P0105 Export bills (in respect of goods) sent on collection.
P0106 Conversion of overdue export bills from NPD to collection mode
P0107 Realisation of NPD export bills (full value of bill to be reported)
02 Transportation P0201 Receipts of surplus freight/passenger fare by Indian shipping companies operating abroad
P0202 Purchases, on account of operating expenses of Foreign shipping companies operating in India
P0205 Purchases on account of operational leasing (with crew) - Shipping companies
P0207 Receipts of surplus freight/passenger fare by Indian Airlines companies operating abroad.
P0208 Receipt on account of operating expenses of Foreign Airlines companies operating in India
P0211* Purchases on account of operational leasing (with crew) -Airlines companies
P0213 Receipts on account of other transportation services (stevedoring, demurrage, port handling charges etc). '
03 Travel P0301 Purchases towards travel (Includes purchases of foreign TCs, currency : notes etc over the counter, by hotels, hospitals, Emporiums, Educational institutions etc. as well as amount received bv TT/SWIFT transfers or debit.
P0308 FC surrendered by returning Indian tourists.
04 Communication Service P0401 Postal services
P0402 Courier services
P0403 Telecommunication services
P0404 Satellite services
05 Construction Service -P0501 Receipts for cost of construction of services projects in India
06 Insurance Service P0601 Receipts of life insurance premium
P0602 Receipts of freight insurance - relating to import & export of goods
P0603 Receipts on account of other general insurance premium
P0604 Receipts of Reinsurance premium
P0605 Receipts on account of Auxiliary services { commission on Insurance)
P0606 Receipts on account of settlement of claims
07 Financial Services P0701 Financial intermediation except investment banking - Bank charges, collection charges, LC charges, cancellation of forward contracts, commission on financia! leasing etc.
P0702 Investment banking - brokerage, underwriting commission etc.
P0703 Auxiliary services - charges on operation & regulatory fees, custodial services, depository services etc.
08 Computer & Information Services P0801 Hardware consultancy
P0802 Software implementation/consultancy (other than those covered in SOFTEX form)
P0803 Data base, data processing charges
P0804 Repair and maintenance of computer and software
P0805 Mews agency services
P0806 Other information services- Subscription to newspapers, periodicals, etc.
09 Royalties & License Fees P0901 Franchises services - patents.copy rights, trade marks, industrial processes, franchises etc.
P0902 Receipts for use, through licensing arrangements, of produced originals or prototypes (such as manuscripts and films) .
10 Other Business Services P1001 Merchanting Services � net receipts (from sale and purchase of goods without crossing the border).
P1002 Trade related services - Commission on exports/imports.
P1003 Operational leasing services (other than financial leasing and without operating crew) including charter hire
P1004 Legal services
P1005 Accounting, auditing, book keeping and tax consulting services
P1006 Business and management consultancy and public relations services
P1007 Advertising, trade fair, market research and public opinion polling services
P1008 Research & Development services
P1009 Architectural, engineering and other technical services
P1010 Agricultural, mining and on -site processing services - protection against insects & disease, increasing of harvest yields, forestry services, mining services like analysis of ores etc.
P1011 Inward remittance for maintenance of offices in India
P1012 Distribution services
P1013 Environmental services
P1019 Other services not included elsewhere
11 Personal, Cultural & Recreational services. P1101 Audio-visual and related services -services and associated fees related to production of motion pictures, rentals, fees received by actors, directors, producers and fees for distribution rights.
P1102 Personal, cultural services such as those related to museums, libraries, archives and sporting activities and fees for correspondence courses of Indian Universities/Institutes
12 Government, not included elsewhere (G.n.i.e.) P1201 Maintenance of foreign embassies in India
P1203 Maintenance of international institutions such as offices of IMF mission, World Bank, UNICEF etc. in India.
13 Transfers P1301 Inward remittance from Indian nonresidents towards family maintenance and savings
P1302 Personal gifts and donations
.P1303 Donations to religious and charitable institutions in India
P1304 Grants and donations to governments and charitable institutions established by the governments
P1306 Receipts / Refund of taxes
14 Income P1401 Compensation of employees
P1403 Inward remittance towards interest on loans extended to non-residents (ST/MT/LT loans)
P1404 Inward remittance of interest on debt securities - debentures / bonds /FRNsetc,
P1405 Inward remittance towards interest receipts of ADs on their own account (on investments.)
P1406 Repatriation of profits to India
P1407 Receipt of dividends by Indians
15 Others P1501 Refunds / rebates on account of imports
P1502 Reversal of wrong entries, refunds of amount remitted for non-imports
P1503 Remittances (receipts) by residents under international bidding process.
P1590 Receipts below $10,000 (say Rs 5,00,000)



Annexure III

NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS PAYMENT PURPOSES


Group No. Purpose Group Name Purpose Code Description
00 Capital Account S0001 Indian investment abroad -in equity capital (shares)
S0002 Indian investment" abroad -in debt securities
S0003 Indian investment abroad -in branches
S0004 Indian investment abroad -in subsidiaries and associates
S0005 Indian investment abroad -in real estate
S0006 Repatriation of Foreign Direct Investment in India- in equity shares
S0007 Repatriation of Foreign Direct Investment in India- in debt securities
S0008 Repatriation of Foreign Direct Investment in India- in real estate
S0009 Repatriation of Foreign Portfolio Investment in India- in equity shares
S0010 Repatriation of Foreign Portfolio Investment in India- in debt securities
S0011 Loans extended to Non-Residents
S0012 Repayment of loans received from Non- Residents {Long & medium term loans)
S0013 Repayment of short term loans received from Non-Residents
S0014 Repatriation of Non-Resident Deposits (FCNRB/N.RERA etc)
S0015 Repayment of loans & overdrafts taken by ADs on their own account.
S0016 Sale of a foreign currency against another foreiqn currency
S0017 Purchase of intangible assets like patents, copyrights, trade marks etc.
S0018 Other capital payments not included Elsewhere
01 Imports S0101 Advance payment against imports
S0102 Payment towards imports- settlement of invoice
S0103 Imports by diplomatic missions
S0104 Intermediary trade
S0190 Imports below Rs. 500.000- (For use by ECD offices
02 Transportation S0201 Payments for surplus freight/passenger fare by foreign shipping companies operating in India.
S0202 Payment for operating expenses of Indian shipping companies operating abroad.
S0203 Freight on imports - Shipping companies
S0204 Freight on exports - Shipping companies
S0205 Operational leasing (with crew) -Shipping companies
S0206 Booking of passages abroad -Shipping companies
S0207 Payments for surplus freight/passenger fare by foreign Airlines companies operating in India,
S0208 Operating expenses of Indian Airlines companies operating abroad
S0209 Freight on imports - Airlines companies
S0210 Freight on exports - Airlines companies
S0211 Operational leasing (with crew) -Airlines companies
S0212 Booking of passages abroad - Airlines companies
S0213 Payments on account of stevedoring, demurrage, port handling charges etc.
03 Travel S0301 Remittance towards Business travel.
S0302 Travel under basic travel quota (BTQ)
S0303 Travel for pilgrimage
S0304 Travel for medical treatment
S0305 -Travel for education (including fees, lostel expenses etc.)
S0306 Other travel (international credit cards)
04 Communica-tion Service S0401 Postal services
S0402 Courier services
S0403 Telecommunication services
S0404 Satellite services
05 Construction Service S0501 Construction of projects abroad by Indian companies including import of goods at project site
S0502 Payments for cost of construction etc. of projects executed by foreign companies in India.
06 Insurance Service S0601 Payments for Life insurance premium
S0602 Freight insurance - relating to import & export of goods
S0603 Other general insurance premium
S0604 Reinsurance premium
S0605 Auxiliary services (commission on insurance)
S0606 Settlement of claims
07 Financial Services S0701 Financial intermediation except investment banking - Bank charges, collection charges, LC charges, cancellation of forward contracts, commission on financial leasing etc.
S0702 Investment banking - brokerage, underwriting commission etc.
S0703 Auxiliary services - charges on operat ion & regulatory fees, custodial services, depository services etc.
08 Computer & Information Services S0801 Hardware consultancy
S0802 Software implementation/consultancy
S0803 Data base, data processing charges
S0804 Repair and maintenance of computer And software
S0805 slews agency services
S0806 Other information services-Subscription to newspapers, periodicals
09 Royalties & License Fees S0901 Franchises services - patents, copyrights, trade marks, industrial processes, franchises etc.
S0902 Payment for use, through licensing arrangements, of produced originals or prototypes (such as manuscripts and films)
10 Other Business Services S1001 Merchanting services �net payments (f rom Sale & purchase of goods without crossing the border).
S1002 Trade related services - commission on exports / imports
S1003 Operational leasing services (other than financial leasing) without operating crew, including charter hire
S1004 Legal services
S1005 Accounting, auditing, book keeping and tax consulting services
S1006 Business and management consultancy and public relations Services
S1007 Advertising, trade fair, market research and public opinion polling Service
S1008 Research & Development services
S1009 Architectural, engineering and other technical services
S1010 Agricultural, mining and on-site processing services - protection against insects & disease, increasing of harvest yields, forestry services, mining services like analysis of ores etc.
S1011 Payments for maintenance of offices Abroad
S1012 Distribution services
S1013 Environmental services
S1019 Other services not included elsewhere
11 Personal, Cultural & Recreational services S1101 Audio-visual and related services -services and associated fees related to production of motion pictures, rentals, fees received by actors, directors, producers and fees for distribution rights.
S1102 Personal, cultural services such as those related to museums, libraries, archives and sporting activities; fees for correspondence courses abroad.
12 Government not included elsewhere (G.n.i.e.) S1201 Maintenance of Indian embassies abroad
S1202 Remittances by foreign embassies in India
13 Transfers S1301 Remittance by non-residents towards family maintenance and savings
S1302 Remittance towards personal gifts and donations
S1303 Remittance towards donations to religious and charitable institutions abroad
S1304 Remittance towards grants and donations to other governments and charitable institutions established by the governments.
S1305 Contributions/donations by the Government to international institutions
S1306 Remittance towards payment / refund of taxes.
14 Income S1401 Compensation of employees
S1402 Remittance towards interest on Non-Resident deposits (FCNRB/NRERA/ NRNRD/NRSR etc.)
S1403 Remittance towards interest on loans from Non- Residents (ST/MT/LT loans)
S1404 Remittance of interest on debt securities - debentures / bonds / FRNs etc.
S1405 Remittance towards interest payment by ADs on their own account (to VOSTRO a/c holders or the OD on NOSTRO a/c.)
S1406 Repatriation of profits
S1407 Payment/ repatriation of dividends
15 Others S1501 Refunds / rebates / reduction in invoice value on account of exports
S1502 Reversal of wrong entries, refunds of amount remitted for non-exports
S1503 Payments by residents for international bidding
S1504 Crystallize/Cancel export bills



Annexure-IV

Purpose codes for Cover-page


Purpose Code Details
S0190 Imports below (Total)
S0191 Imports above (Total)
S1590 Non-Imports below (Total)
S1591 Non-Imports above (Total)
P0100 Exports (Totals (N/P/D + Collection bills Realised during Fortnight + Advance received during Fortnight)
P1590 Non-Exports below (Total)
P1591 Non-Exports above (Total)
P0144 Intermediary Exports (Totals)
S0144 Intermediary Imports (Total)
S0091 Sales to Reserve Bank of India
P0091 Purchase from Reserve Bank of India
S0092 Sales to Other ADs in India
P0092 Purchase from Other ADs in India
S0093 Sales to Overseas Banks/correspondents
P0093 Purchase from Overseas Banks/correspondents
S0094 Credit to vostro a/c of overseas Banks/correspondents
P0094 Debit from vostro a/c of overseas Banks/correspondents
S0095 Sales at branches
P0095 Purchases at branches
P2088 Nostro Mirror/Vostro (debit opening balance)
P2199 Nostro Mirror/Vostro (debit closing balance)
S2088 Nostro Mirror/Vostro (credit opening balance)
S2199 Nostro Mirror/Vostro (credit closing balance)



Annexure - V

Form A2
Application cum Declaration
(To be completed by the applicant)
Application for drawal of foreign exchange

I. Details of the applicant -

    a. Name ____________________________
    b. Address ____________________________________________
    c. Account No. _____________________

II. Details of the foreign exchange required

    1. Amount (Specify currency) ___________________
    2. Purpose __________________________________

III. I authorise you to debit my Saving Bank/Current/RFC/EEFC Account No._________________ together with your charges and

    * a) Issue a draft : Beneficiary's Name________________________
                               Address ________________________________
    * b) Effect the foreign exchange remittance directly -

      1. Beneficiary's Name _________________________________
      2. Name and address of the Bank _______________________
      3. Account No. ____________________

    *c) Issue travellers cheques for _____________________________
    *d) Issue foreign currency notes for _________________________
    (Strike out whichever is not applicable)


Signature

Declaration
(Under FEMA 1999)


I, _________________________ declare that -

* 1) The total amount of foreign exchange purchased from or remitted through, all sources in India during this calendar year including this application is within USD _____________ (USD _________________________ __________________________________________________________only) the annual limit prescribed by Reserve Bank of India for the said purpose.

* 2) Foreign exchange purchased from you is for the purpose indicated above.

(Strike out whichever is not applicable)

Signature                    
Name _____________

Date:

(The purpose codes are on the reverse)



Annexure -VI

Declaration (under FEMA 1999)


We hereby declare that all forex transactions, as may be entrusted by us to the bank from time to time will be in strict conformity with the prevailing provisions of FEMA, 1999 at the time the transactions are put through.

  • I/We further declare that the undersigned has/have the authority to give this declaration and undertaking on behalf of the firm/company.

  • ____________________________
    Signature of the Applicant
    for Foreign Exchange

    Place

    Date

  • Applicable when the declaration/undertaking is signed on behalf of the firm/company.

  • 
    
    
    
    
    				
           


    Enquiry Form

    Fields marked with an asterisk * are required.

     




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