| Date: |
21-08-2015
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| Notification No: |
RBI/2015-16/157 A.P. (DIR Series) Circular No. 9
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
RBI/2015-16/157 A.P. |
| Subject: |
Foreign Direct Investment – Reporting under FDI Scheme on the e-Biz platform
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RBI/2015-16/157
A.P. (DIR Series) Circular No. 9
August 21, 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.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 (RBI), under the aegis
of the e-Biz project of the Government of India has enabled online filing of
the Foreign Currency Transfer of Shares (FCTRS) returns for reporting
transfer of shares, convertible debentures, partly paid shares and warrants
from a person resident in India to a person resident outside India or vice
versa.
- The design of the reporting platform enables the customer to login into
the eBiz portal, download the reporting form (FCTRS), 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 and if necessary,
call for additional information from the customer and then upload the same
for RBI to process and allot the Unique Identification Number (UIN). The
FCTRS services of RBI will be made operational on the e-Biz platform from
August 24, 2015. The user manual for this service 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 residents to undertake
their FCTRS reporting and the manual system of reporting as prescribed in
terms of
A.P. (DIR Series) Circular No.6 dated July 18, 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. ADs may refer to
A.P. (DIR Series)
Circular No.95 dated April 17, 2015 for financial aspects of obtaining/using
the VPN accounts.
- 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,
(B P Kanungo)
Principal Chief General Manager
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