| Date: |
20-04-2007
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| Notification No: |
RBI A P D (Series)Circular No 40/2007
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
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| Subject: |
Reporting under FDI Scheme - Revised Form FC-GPR
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RBI/2006-2007/336
A. P. (DIR Series) Circular No.40
April 20, 2007
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Reporting under FDI Scheme - Revised Form FC-GPR
- Attention of Authorised Dealer Category-I (AD Category - I) banks is invited to
the Foreign Exchange Management (Transfer or Issue of Security by a Person
Resident outside India) Regulations, 2000 notified vide Notification No. FEMA
20/2000-RB dated May 3, 2000 (the Notification), as amended from time to time.
In terms of para 9 (1) B of Schedule I to the Notification, Indian companies are
required to report the details of Foreign Direct Investment (FDI) in Form FC-GPR
to the Regional Office of RBI within whose jurisdiction the Registered Office of
the Company operates, within 30 days of issue of shares.
- In order to capture the details of FDI in a comprehensive manner, Form FC-GPR
has been revised in consultation with the Government of India. Accordingly, the
details of FDI should, henceforth, be reported in the revised Form FC-GPR,
enclosed as Annex.
- As per the revised format, details of FDI are required to be furnished in
Part A and B. Part A has to be filed by the Company, through AD Category – I
bank, to the concerned Regional Office of RBI. Part B, which is an annual report
of all investments made by the company during a financial year, is required to
be submitted directly by the Company to the Director, Balance of Payment
Statistical Division, Department of Statistical Analysis & Computer Services,
Reserve Bank of India, C 9, 8th floor, Bandra-Kurla Complex, Bandra (E), Mumbai
400 051, by 30th June every year.
- The AD Category – I bank in India, receiving the remittance should obtain a
KYC report in respect of the foreign investor from the overseas bank remitting
the amount. If the AD Category – I bank receiving the remittance is different
from the AD Category – I bank forwarding Form FC-GPR, the latter should file
Form FC-GPR along with a certificate from the former of having received the
inward remittance and the KYC report.
- Necessary amendments to the Foreign Exchange Management (Transfer or Issue of
Security by a Person Resident outside India) Regulations, 2000 notified vide
Notification No. FEMA 20/2000-RB dated May 3, 2000 will be issued separately.
- AD Category - I banks may bring the contents of this circular to the notice
of their constituents and customers concerned.
- The directions contained in this circular have 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,
(Salim Gangadharan)
Chief General Manager
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