Date: |
25-03-2021
|
Notification No: |
A.P. (DIR Series) Circular No.13
|
Issuing Authority: |
RBI
|
Type: |
A.P.D.(Series) Circulars
|
File No: |
RBI/2020-21/113 |
Subject: |
FETERS – Cards: Monthly Reporting
|
RBI/2020-21/113 A.P. (DIR Series) Circular
No.13
March 25, 2021
To
All Category-I Authorised Dealer Banks
Madam / Sir,
FETERS – Cards: Monthly Reporting
Attention of Authorised Dealers (Category I) is
invited to A.P. (DIR Series) Circular No. 50 dated February 11, 2016 on
compilation of R-Returns for reporting under the Foreign Exchange Transactions
Electronic Reporting System (FETERS). It has been decided to collect more
details of international transactions using credit card / debit card / unified
payment interface (UPI) along with their economic classification (merchant
category code – MCC) through a new return called ‘FETERS-Cards’, using the same
web-portal (https://bop.rbi.org.in).
2. Nodal offices of Authorised
Dealers (ADs) may submit FETERS-Cards details on the web-portal in the following
manner:
A. For transactions through credit card / debit card / UPI:
Sale of forex by AD towards international transaction made by Indian
resident (to be reported by the card issuing / transaction originating AD); and
Purchase of forex by AD under transaction by foreign resident with Indian
resident (to be reported by merchant acquirer AD).
B. The information
shall be submitted in the following fixed format (details given in Annex):
For transactions using credit/debit card:
MCC X Country X Currency X
Amount (Payment/Refund) X Card Status (Present /Not present)
For
transactions through UPI:
MCC X Country X Currency X Amount
(Payment/Refund) X QR Code Scan (Yes/No)
3. AD Banks need to report all
card transactions (e.g., through PoS terminals / e-commerce (online purchase) /
for transferring funds to bank accounts).
4. Data submission by ADs:
ADs shall submit the FETERS-Cards data on the web-portal
(https://bop.rbi.org.in) by using the RBI-provided login-name and password,
within seven working days from the last date of the month for which data are
being reported. The web-portal provides detailed guidance and help material.
FETERS-Cards reporting will be implemented for the transactions taking place
from April 1, 2021. Hence, details of the transactions in April 2021 may be
reported in the first week of May 2021.
In case of any clarifications,
banks may send their queries through e-mail or contact by phone at 022-26578416
or 022-26571154 (direct).
5. The directions contained in this circular
have been issued under Sections 10(4) and 11(2) of the Foreign Exchange
Management Act, 1999 (42 of 1999) and are without prejudice to permissions /
approvals, if any, required under any other law.
Yours faithfully
Ajay Kumar Misra Chief
General Manager-in-Charge
|
|