| Date: |
12-02-2015
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| Notification No: |
RBI//2014-15/468 A.P (DIR Series) Circular No.77
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
RBI//2014-15/468 |
| Subject: |
Foreign Direct Investment – Reporting under FDI Scheme on the e-Biz platform
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RBI//2014-15/468
A.P (DIR Series) Circular No. 77
February 12, 2015
To
All Category – I Authorised Dealer Banks
Madam/Sir
Foreign Direct Investment –Reporting under FDI Scheme on the e-Biz
platform
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 and A.P. (DIR Series)
Circular No.6 dated July 18, 2014.
- With a view to promoting the ease of reporting of transactions under
foreign direct investment, the Reserve Bank of India, under the aegis of the
e-Biz project of the Government of India has enabled the filing of the
following returns with the Reserve Bank of India viz.
Advance Remittance Form (ARF) - used by the companies to report the foreign
direct investment (FDI) inflow to RBI; and
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.
- The design of the reporting platform enables the customer to login into
the e-Biz portal, download the reporting forms (ARF and FCGPR), complete and
then upload the same onto the portal using their digitally signed
certificates. The Authorised Dealer Banks (ADs) will be required to download
the completed forms, verify the contents from the available documents, if
necessary by calling for additional information from the customer and then
upload the same for RBI to process and allot the Unique Identification
Number (UIN). It has been decided that the ARF and FCGPR services of RBI
will be operational on the e-Biz platform from February 19, 2015. The user
manual for the two services is Annexed to this Circular.
- It may be noted that for the present, the online reporting on the e-Biz
platform is an additional facility to the Indian companies to undertake
their ARF and FCGPR reporting and the manual system of reporting as
prescribed in terms of
A.P. (DIR Series) Circular No. 102 dated February 11,
2014 would continue till further notice.
- The ADs will be required to access the e-Biz portal (which is hosted on
the National Informatics Centre (NIC) servers) using a Virtual Private
Network (VPN) Account obtained from NIC. The financial aspects for
obtaining/using the VPN accounts is being finalised in consultation with
Government of India, DIPP and NIC. The same will be informed in due course.
- AD Category-I banks may bring the contents of this circular to the notice
of their customers / constituents concerned. They are advised to extend due
cooperation/assistance to their constituents for uploading the
abovementioned forms on the e-Biz platform.
- The directions contained in this circular have been issued under sections
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,
(C D Srinivasan)
Chief General Manager
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