Powered by InfodriveIndia.com

Overseas Investment Application - Online Reporting of Overseas Direct Investment in Form ODI, RBI A P D (Series)Circular No 36/2009, 24-02-2010


Date: 24-02-2010
Notification No: RBI A P D (Series)Circular No 36/2009
Issuing Authority: RBI  
Type: A.P.D.(Series) Circulars
File No: RBI/2009-10/36
Subject: Overseas Investment Application - Online Reporting of Overseas Direct Investment in Form ODI

RBI/2009-10/36
A.P. (DIR Series) Circular No.36

February 24, 2010

To
All Category – I Authorised Dealer Banks

Madam / Sir,

Overseas Investment Application - Online Reporting of
Overseas Direct Investment in Form ODI

Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 68 dated June 1, 2007, revising the reporting package on Overseas Direct Investment (ODI) by the Indian Parties. Further, it was also mentioned in the circular that the ODI forms would be received on-line by the Reserve Bank, in due course.

  1. Accordingly, it has been decided to operationalise the on-line reporting system in a phased manner, with effect from March 2, 2010, to simplify the existing reporting framework. The new system would enable on-line generation of the Unique Identification Number (UIN), acknowledgment of remittance/s and filing of the Annual Performance Reports (APRs) and easy accessibility to data at the AD level for reference purposes.

  2. As per the plan, initially, Part I (Sections A to D), II and III of form ODI should be filed on-line in the Overseas Investment Application for allotment of UIN, reporting of subsequent remittances, filing of APRs, etc. AD Category –I banks would continue to receive the ODI forms in physical form, as stipulated in the A. P. (DIR Series) Circular No. 68 dated June 1, 2007, which should be preserved, UIN wise, for onward submission to the Reserve Bank, if specifically required. Transactions in respect of Mutual Funds, Portfolio Investment Scheme (PIS) and Employees Stock Options Scheme (ESOPS) are also required to be reported on-line in the Overseas Investment Application.

  3. The on-line reporting would be required to be made by the Centralized Unit/Nodal Office of AD Category - I banks. The Overseas Investment Application would be hosted on the Reserve Bank's Secured Internet Website (SIW) https://secweb.rbi.org.in and a link would be made available for accessing the Application on the main page of the website. AD Category – I banks would be responsible for the validity of the information reported on-line. The detailed operational guidelines for accessing the Overseas Investment Application are being communicated to the AD Category - I banks separately.

  4. The application for overseas investment under the approval route would continue to be submitted to the Reserve Bank in physical form as hitherto, in addition to the on-line reporting of Part I as contemplated above, for approval purposes. Further, the transactions relating to closure / disinvestment/ winding up/ voluntary liquidation of the overseas Joint Ventures/Wholly Owned Subsidiaries (JVs / WOSs) under the automatic and approval routes (Part IV of form ODI) would continue to be submitted to the Reserve Bank in physical form as is being done at present.

  5. As per the new reporting system, AD Category – I banks would be able generate the UIN on-line under the automatic route. However, subsequent remittances under the automatic route and remittances under the approval route should be made and reported on-line in Part II, only after receipt of the letter, confirming the UIN from the Reserve Bank.

  6. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned.

  7. The directions contained in this Circular have been issued under Section 10 (4) and 11 (1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,
(Salim Gangadharan)
Chief General Manager-in-Charge

       


Enquiry Form

Fields marked with an asterisk * are required.

 




What is New?

Date: 27-05-2015
Notification No. 23/2015-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of Purified Terephthalic Acid, originating in or exported from Korea RP and Thailand for a period of five years from the date of imposition of provisional anti-dumping duty i.e. 25th July, 2014

Date: 26-05-2015
Trade Notice No.02/2015
Updation of Importer-Exporter Profile regarding.

Date: 26-05-2015
Customs Circular No 17/2015
Regarding Import, trading & re-export of rough diamonds by notified entities in Bharat Diamond Bourse, Bandra Kurla Cargo Complex, Mumbai

Date: 25-05-2015
Central Excise Notification No 30/2015
Seeks to further amend Notification No. 22/2003-Central Excise, dated the 31st March, 2003

Date: 25-05-2015
Central Excise Notification No 29/2015
Seeks to further amend notification No. 6/2005-CE dated 1.3.2005

Date: 25-05-2015
Customs Notification No. 34/ 2015
Seeks to further amend Notification No. 52/2003-Customs, dated the 31st March, 2003

Date: 25-05-2015
DGFT Public Notice No. 14/2015-2020
Application Form for Served From India Scheme (SFIS) for Net Foreign

Date: 25-05-2015
Customs Notification No 48/2015 (NT)
Notifying appointment of Shri Ram Tirath as the Director General (Safeguard) in supersession of Customs notification No. 115/2013-Customs (N.T.) dated 27th November, 2013.

Date: 22-05-2015
DGFT Public Notice No. 13/2015-2020
Implementation of Track and Trace System for export of drug formulations.

Date: 22-05-2015
Notification No. 20/2015-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of Pentaerythritol' , originating in, or exported from,Russia for a period of five years.