Executive Summary:
This circular from the Reserve Bank of India (RBI) introduces a new return, "FETERSCards," for reporting international transactions made via credit card, debit card, and Unified Payment Interface (UPI) through the Foreign Exchange Transactions Electronic Reporting System (FETERS). Authorised Dealer (AD) banks must submit detailed transaction data, including merchant category code (MCC), country, currency, and amount, via the RBI web portal. The reporting requirement is effective for transactions from April 1, 2021, with the first report due in the first week of May 2021.
Key Points / Main Content:
* **Reporting Requirement:**
* AD banks must report details of international transactions made through credit cards, debit cards, and UPI.
* A new return called "FETERSCards" is introduced for this purpose, submitted through the existing FETERS web portal.
* **Reporting Entities:**
* For credit/debit card and UPI transactions:
* Sale of forex by AD for international transactions by Indian residents: Card issuing/transaction originating ADs to report.
* Purchase of forex by AD for transactions by foreign residents with Indian residents: Merchant acquirer ADs to report.
* **Data Format:**
* Credit/Debit Card Transactions: MCC x Country x Currency x Amount x Payment/Refund x Card Status (Present/Not Present).
* UPI Transactions: MCC x Country x Currency x Amount x Payment/Refund x QR Code Scan (Yes/No).
* Data files should be in ASCII format, delimited with "|".
* **Data Submission:**
* ADs to submit FETERSCards data on the web portal (https://bop.rbi.org.in) using RBI-provided login credentials.
* Submission deadline: Within seven working days from the last day of the month for which data is reported.
* Transactions from April 1, 2021, onwards must be reported.
* **File Naming Convention:**
* Credit Card: BANKCODEMMYYYYCC.txt
* Debit Card: BANKCODEMMYYYYDC.txt
* UPI International Transactions: BANKCODEMMYYYYUPII.txt
Impact Analysis:
* **Authorised Dealer (AD) Banks:**
* Impact: New reporting requirements for international transactions made through credit cards, debit cards, and UPI.
* Action Required: Implement systems to capture and report the required transaction details in the specified format and adhere to the submission deadlines.
Key Entities Referenced
Reserve Bank of India: The central bank of India, referred to here as RBI, which issued the circular.
Foreign Exchange Management Act, 1999: The Indian legislation governing foreign exchange transactions, under which the circular's directions are issued.
Authorised Dealer Category I Banks: Banks authorized by the RBI to deal in foreign exchange.
Foreign Exchange Transactions Electronic Reporting System: The electronic system, abbreviated as FETERS, used for reporting foreign exchange transactions to the RBI.
FETERSCards: A new return for collecting details of international transactions using credit card, debit card, and Unified Payment Interface (UPI).
Unified Payment Interface: UPI, is a real-time payment system that facilitates instant fund transfers between two bank accounts using a mobile platform.
Merchant Category Code: A four-digit number (MCC) used to classify a business by the type of goods or services it provides.
Ajay Kumar Misra: Chief General Manager-in-Charge at Reserve Bank of India. Signed off at the end of the circular
RBI/2020-21/113
A.P. (DIR Series) Circular No.13 March 25, 2021
To
All Category-I Authorised Dealer Banks
Madam / Sir,
FETERS – Cards: Monthly Reporting
Attention of Authorised Dealers (Category I) is invited to A.P. (DIR Series) Circular No.
50 dated February 11, 2016 on compilation of R-Returns for reporting under the Foreign
Exchange Transactions Electronic Reporting System (FETERS). It has been decided
to collect more details of international transactions using credit card / debit card / unified
payment interface (UPI) along with their economic classification (merchant category
code – MCC) through a new return called ‘FETERS-Cards’, using the same web-portal
(https://bop.rbi.org.in).
2. Nodal offices of Authorised Dealers (ADs) may submit FETERS-Cards details on the
web-portal in the following manner:
A. For transactions through credit card / debit card / UPI:
(i) Sale of forex by AD towards international transaction made by Indian
resident (to be reported by the card issuing / transaction originating AD);
and
(ii) Purchase of forex by AD under transaction by foreign resident with Indian
resident (to be reported by merchant acquirer AD).
B. The information shall be submitted in the following fixed format (details given in
Annex):
a. For transactions using credit/debit card:
MCC X Country X Currency X Amount (Payment/Refund) X Card Status (Present /Not present)
b. For transactions through UPI:
MCC X Country X Currency X Amount (Payment/Refund) X QR Code Scan (Yes/No)
3. AD Banks need to report all card transactions (e.g., through PoS terminals / e-
commerce (online purchase) / for transferring funds to bank accounts).4. Data submission by ADs:
(i) ADs shall submit the FETERS-Cards data on the web-
portal (https://bop.rbi.org.in) by using the RBI-provided login-name and
password, within seven working days from the last date of the month for
which data are being reported. The web-portal provides detailed guidance
and help material.
(ii) FETERS-Cards reporting will be implemented for the transactions taking
place from April 1, 2021. Hence, details of the transactions in April 2021 may
be reported in the first week of May 2021.
(iii) In case of any clarifications, banks may send their queries through e-mail or
contact by phone at 022-26578416 or 022-26571154 (direct).
5. The directions contained in this circular have been issued under Sections 10(4) and
11(2) 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
Ajay Kumar Misra
Chief General Manager-in-ChargeAnnex to A.P. (DIR Series) Circular No.13 dated March 25, 2021
1. The FETERS-Cards data files should be in ASCII format with one record per
line. All fields in each file should be delimited with the delimiter “|”. The web-
portal provides a downloadable Java-based validator for converting data
from MS-excel file to generate the prescribed ASCII format file, if required.
2. ADs are encouraged to generate the prescribed format data file from their
internal system, validate/upload it in the web-portal and get acknowledgment.
The portal enables downloading reports based on their own data submitted
in the past.
3. Naming Convention: The file name should be “BANKCODE_MMYYYY_CC”
for credit card, “BANKCODE_MMYYYY_DC” for debit card and
“BANKCODE_MMYYYY_UPII” for UPI international transactions. For
example, if bank code is XXX, the file name should be:
• XXX_MMYYYY_CC.txt for credit card file
• XXX_MMYYYY_DC.txt for debit card file
• XXX_MMYYYY_UPII.txt for UPI international transactions
4. Credit Card File format for International Transactions: Structure of Record type 01 and 02
File name - Bankcode_MMYYYY_CC.TXT
Field Format Remarks
Char (5) AD Bank Code
Bank code
(Max length is 5 Char)
Reporting Month and Year
Month-end date MMYYYY
<e.g. 122019 (for December 2019) >
= 01 < International Payment by resident – to be reported by card issuing bank>
Record type Char (2)
= 02 < Payment by non-resident – to be reported by the acquiring bank >
Merchant Category Code
MCC Char (4)
< e.g. MCC 6011 for Cash Disbursements at ATMs>
Country code (ISO 3166) (country code of the card holder)
Country code Char (2) = IN < for Record type 01 >
= Other than IN < for Record type 02 >
Currency code (ISO 4217) – transaction currency
= Other than INR
Currency code Char (3) < for international transaction by a resident under Record type 01>
= INR
< for transaction by a non-resident under Record type 02 >
Count in actuals
No. of transactions Num (10)
< Max length 10 >
Amount in INR (Billing currency)
Amount Num (15,2)
< Max length 15 digit with two decimal places >
= “Y” < for Card Present >
Card present Char (1)
= “N” < for Card Not Present >
1Annex to A.P. (DIR Series) Circular No.13 dated March 25, 2021
5. Debit Card File Format for International Transactions: Structure of Record type 01 and 02)
File name - Bankcode_MMYYYY_DC.TXT
Field Format Remarks
Char (5) AD Bank Code
Bank code
(Max length is 5 Char)
Month-end date MMYYYY Reporting Month and Year <e.g. 122019 (for December 2019) >
= 01 < International Payment by resident – to be reported by card issuing bank>
Record type Char (2)
= 02 < Payment by non-resident – to be reported by the acquiring bank >
Merchant Category Code
MCC Char (4)
< e.g. MCC 6011 for Cash Disbursements at ATMs>
Country code (ISO 3166) (country code of the card holder)
Country code Char (2) = IN < for Record type 01 >
= Other than IN < for Record type 02 >
Currency code (ISO 4217) – transaction currency
Currency code Char (3) = Other than INR <for international transaction by a resident under Record type 01>
= INR < for transaction by a non-resident under Record type 02 >
No. of transactions Num (10) Count in actuals < Max length 10 >
Amount in INR (Billing currency)
Amount Num (15,2)
< Max length 15 digit with two decimal places >
= “Y” < for Card Present >
Card present Char (1)
= “N” < for Card Not Present >
6. UPI International File Format: Structure of Record type 01 and 02)
File name - Bankcode_ MMYYYY_UPII.TXT
Field Format Remarks
Char (5) AD Bank Code
Bank code
(Max length is 5 Char)
Reporting Month and Year
Month-end date MMYYYY
<e.g. 122019 (for December 2019) >
= 01 < International Payment by resident
- to be reported by UPI transaction issuing bank >
Record type Char (2)
= 02 < Payment by non-resident
- to be reported by UPI transaction acquiring bank>
MCC Char (4) Merchant Category Code
Country code (ISO 3166) (country of the UPI ID holder)
Country code Char (2) = IN < for Record type 01 >
= Other than IN < for Record type 02 >
Currency code (ISO 4217) – transaction currency
Currency code Char (3) = Other than INR < for Record type 01 >
= INR < for Record type 02 >
Count in Actuals
No. of transactions Num (10)
< Max length 10 >
Amount in INR (Billing currency)
Amount Num (15,2)
< Max length 15 digit with two decimal places >
= “Y” < for QR code Scan >
QR code scan Char (1)
= “N” < for Non-QR code Scan >
2Annex to A.P. (DIR Series) Circular No.13 dated March 25, 2021
Sample file - Credit Card International Transactions- 639_122019_CC.TXT
639|122019|01|2222|IN|USD|111|1116.44|Y
639|122019|01|2222|IN|USD|83|111128.4|N
639|122019|02|2222|KE|INR|1|5579|Y
639|122019|02|2222|KE|INR|3|1070|N
Sample file - Debit Card International Transactions - 639_122019_DC.TXT
639|122019|01|2222|IN|USD|1|11179.37|Y
639|122019|02|2222|KE|INR|4|93868|Y
Sample file – UPI International Transactions – 639_122019_UPII.TXT
639|122019|01|1520|IN|SGD|8273|544328.7|Y
639|122019|02|2222|US|INR|9073|948328.7|N
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