**Summary:**
This circular, RBI20232494 A.P. DIR Series Circular No. 12, issued by the Reserve Bank of India (RBI) on December 22, 2023, informs all Category-I Authorised Dealer (AD Category-I) banks about the discontinuation of submitting gold import statements via the legacy XBRL system. Effective December 26, 2023, these banks are required to submit the following statements through the Centralised Information Management System (CIMS):
1. A statement on a half-yearly basis (end of March and September) showing the quantity and value of gold imported by nominated banks/agencies, Export Oriented Units (EOUs), and Special Economic Zones (SEZs) in the Gem & Jewellery sector, categorized by mode of payment.
2. A statement on a monthly basis showing the quantity and value of gold imports by nominated agencies (other than nominated banks), EOUs, and SEZs in the Gem & Jewellery sector during the reporting month, including the cumulative position from the beginning of the financial year.
These returns, named "Import of gold by EOUs, units in SEZ/EPZ and nominated agencies-M" (Return Code R132) and "Import of gold by EOUs, units in SEZ/EPZ and nominated agencies-HY" (Return Code R133), must be uploaded to the CIMS portal at URL: https://sankalan.rbi.org.in. AD Category-I banks are instructed to upload a NIL report if no data is to be furnished.
This directive is issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and does not supersede any other legal requirements.
For further information, contact Puneet Pancholy, Chief General Manager.
Key Entities Referenced
Reserve Bank of India: Regulatory body issuing the circular (RBI)
Authorised Dealer Category-I Banks: Entities to whom the circular is addressed (AD Category-I Banks)
CIMS Project: Centralised Information Management System Project, a data warehouse for data collection.
XBRL: Extensible Business Reporting Language, the legacy system being discontinued.
A.P. DIR Series Circular No. 103: Previous circular dated April 03, 2012, related to reporting requirements.
A.P. DIR Series Circular No. 30: Previous circular dated September 15, 2014, related to reporting requirements.
Foreign Exchange Management Act, 1999: The legal framework under which the circular is issued.
Puneet Pancholy: Chief General Manager at RBI, the signatory of the circular.
RBI/2023-24/94
A.P. (DIR Series) Circular No.12 December 22, 2023
To
All Category-I Authorised Dealer Banks
Madam / Sir,
CIMS Project implementation - Discontinuation of submission in legacy XBRL
Attention of Authorised Dealer Category-I (AD Category- I) banks is invited to A.P. (DIR
Series) Circular No. 103 dated April 03, 2012 and of A.P. (DIR Series) Circular No. 30
dated September 15, 2014 in terms of which, AD Category-I banks were required to
submit the following statements on XBRL site –
(i) Statement on half yearly basis (end March/end September) showing the quantity and
value of gold imported by the nominated banks/ agencies/ EOUs/ SEZs in Gem &
Jewellery sector, mode of payment-wise,
(ii) Statement on monthly basis showing the quantity and value of gold imports by the
nominated agencies (other than the nominated banks)/ EOUs/ SEZs in Gem & Jewellery
sector during the month under report as well as the cumulative position as at the end of
the said month beginning from the 1st month of the Financial Year.
2. It has now been decided to discontinue submission of the return through the XBRL
system and shift to Centralised Information Management System (CIMS), Bank’s new
data warehouse for data collection, with effect from December 26, 2023. AD Category-I
banks have already been onboarded on CIMS portal and are currently undertaking
parallel submission of the return on both XBRL site as well as CIMS portal. The returns
have been named ‘Import of gold by EOUs, units in SEZ/EPZ and nominated
agencies(M)’, ‘‘Import of gold by EOUs, units in SEZ/EPZ and nominated agencies(HY)’
and has been assigned return codes- ‘R132’ & ‘R133’ respectively on CIMS portal.3. Accordingly, AD Category-I banks shall upload the two statements as mentioned at
para 1 (i) and (ii) on CIMS portal (URL: https://sankalan.rbi.org.in) with effect from
December 26, 2023. In case no data is to be furnished, AD Category-I banks shall upload
a ‘NIL’ report.
4. The directions contained in this circular have been issued under Section 10 (4) and 11
(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without
prejudice to permissions/approvals, if any, required under any other law.
Yours faithfully,
(Puneet Pancholy)
Chief General Manager