RBI/2013-14/374
A.P. (DIR Series) Circular No. 75
November 19, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir
Trade Credit for imports into India- Online submission of data on issuance of
Guarantee/Letter of Undertaking (LoU) /Letter of Comfort (LoC) by ADs
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to
A.P. (DIR Series) Circular No. 87 dated April 17, 2004
and
A.P. (DIR Series)
Circular No. 24 November 1, 2004 relating to the Trade Credits for imports into
India and submission of data on issuance of guarantees/ LoUs / LoCs by AD banks
at quarterly statement in the prescribed format thereof to the Reserve Bank.
- It has been decided to shift the arrangement for reporting of data on
issuance of guarantees/ LoUs/ LoCs by all AD banks in consolidated statement, at
quarterly intervals, from manual submission (and in MS-Excel file through email)
to eXtensible Business Reporting Language (XBRL) platform from quarter ended
September 30, 2013.
- For the above purpose AD banks may login to the site
https://secweb.rbi.org.in/orfsxbrl/ using their User name, Password and Bank
code. For downloading the relevant form, AD banks may follow the link ‘Download
Returns Package’ and download the Form LOU first version. After following the
successive steps, AD banks may upload the file. For User name and Password, AD
banks may apply through email along with contact details. Clarification
required, if any, may also be sent to the aforesaid email of the Reserve Bank
and/ or may be communicated at Telephone No. 022-22601000 (extension- 2715).
Guide for using XBRL website is also available under the Help option on the same
page.
- The submission of manual statement (and in MS-Excel file through email) to
the Reserve Bank is henceforth dispensed with. Those AD banks who have already
submitted the manual statement (and MS-Excel file) for the quarter ended
September 30, 2013 are also required to report the same data online. From the
quarter ending December 31, 2013 onwards, the data should be submitted only in
soft form on XBRL platform latest by 10th of the succeeding month.
- Authorised Dealer banks may bring the contents of this circular to the notice
of their constituents and customers.
- The direction contained in this circular has been issued under sections 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
Rudra Narayan Kar
Chief General Manager-in-Charge