| Date: |
01-02-2016
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| Notification No: |
RBI/2015-16/303 A.P. (DIR Series) Circular No. 40
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
RBI/2015-16/303 |
| Subject: |
Foreign Direct Investment –Reporting under FDI Scheme, Mandatory filing of form ARF, FCGPR and FCTRS on e-Biz platform and discontinuation of physical filing from February 8, 2016
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RBI/2015-16/303
A.P. (DIR Series) Circular No. 40
February 01, 2016
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Foreign Direct Investment –Reporting under FDI Scheme, Mandatory filing of
form ARF, FCGPR and FCTRS on e-Biz platform and discontinuation of
physical filing from February 8, 2016
Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to
the provisions of the Foreign Exchange Management (Transfer or Issue of Security
by a Person Resident outside India) Regulations 2000, notified by the Reserve
Bank vide
Notification No. FEMA 20/2000-RB, dated 3rd May 2000, as amended from
time to time. Attention of AD Category – I banks is also invited to
A.P. (DIR
Series) Circular No.102 dated February 11, 2014;
A.P. (DIR Series) Circular No.6
dated July 18, 2014;
A.P.(DIR Series) Circular no.77 dated February 12, 2015;
A.P.(DIR Series) Circular No. 95 dated April 17, 2015 and
A.P.(DIR Series)
Circular No.9 August 21, 2015.
- With a view to promoting the ease of reporting of transactions related to
Foreign Direct Investment (FDI), the Reserve Bank of India, under the aegis of
the e-Biz project of the Government of India has enabled online filing of the
following returns with the Reserve Bank of India viz.
- Advance Remittance Form (ARF) which is used by the companies to report the FDI
inflows to RBI;
- FCGPR Form which a company submits to RBI for reporting the issue of eligible
instruments to the overseas investor against the above mentioned FDI inflow; and
- FCTRS Form which is submitted to RBI for transfer of securities between
resident and person outside India.
- At present both the options, i.e. online filing and physical filing of
abovementioned forms, are available to the users.
- Based on the experience it has been decided that beginning February 8, 2016
the physical filing of forms ARF, FCGPR and FC-TRS will be discontinued and
forms submitted in online mode only through e-Biz portal will be accepted.
- AD Category-I banks may bring the contents of this circular to the notice of
their customers / constituents concerned. They are advised to extend necessary
guidance/ assistance to their constituents for uploading the abovementioned
forms on the e-Biz platform.
- The directions contained in this circular have been issued under section
10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999)
and are without prejudice to permissions / approvals, if any, required under any
other law.
Yours faithfully,
(B. P. Kanungo)
Principal Chief General Manager
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