This Reserve Bank of India (RBI) circular, A.P. DIR Series Circular No. 70, dated May 19, 2016, mandates that all Authorised Persons who are Indian Agents under the Money Transfer Service Scheme (MTSS) submit their quarterly remittances statement using the eXtensible Business Reporting Language (XBRL) system, commencing with the quarter ending June 2016. This updates A.P. DIR Series Circular No. 89 dated March 12, 2013. The reporting platform can be accessed at https:secweb.rbi.org.inorfsxbrl. Authorised Persons are required to submit a completed Annex I form via email to fedaprdrbi.org.in by May 30, 2016, to obtain their username and password for the XBRL system. This circular updates FED Master Direction No. 18/2015-16 dated January 1, 2016, and is issued under the authority of Section 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999.
Key Entities Referenced
Reserve Bank of India: Central bank of India, the publisher of the circular.
Mumbai, Maharashtra: City in India where the Reserve Bank of India is located.
Money Transfer Service Scheme: A scheme that allows authorized persons to act as Indian Agents for money transfer services.
A.P. DIR Series Circular No. 70: A circular number related to the Money Transfer Service Scheme.
A.P. DIR Series Circular No. 89: A circular number related to the Money Transfer Service Scheme, dated March 12, 2013.
eXtensible Business Reporting Language: XBRL, a system for reporting statements from the quarter ending June 2016.
FED Master Direction No. 18/2015-16: Master direction related to Foreign Exchange Department operations.
Foreign Exchange Management Act, 1999: FEMA, the Act under which the circular's directions are issued.
RESERVE BANK OF INDIA
Mumbai - 400 001
RBI/2015-16/401
A.P. (DIR Series) Circular No.70
May 19, 2016
To
All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme
Money Transfer Service Scheme - Submission of statement/returns under XBRL
Madam / Sir,
Attention of Authorised Persons, who are Indian Agents under Money Transfer Service
Scheme (MTSS) is invited to the A.P. (DIR Series) Circular No. 89 dated March 12,
2013 in terms of which all Authorised Persons, who are Indian Agents under Money
Transfer Service Scheme were required to submit quarterly statement of the quantum
of remittances received in the prescribed format.
2. All Authorised Persons, who are Indian Agents under Money Transfer Service
Scheme (MTSS) are now advised to report the above mentioned statement in
eXtensible Business Reporting Language (XBRL) system from the quarter ending June
2016.
3. The reporting platform may be accessed at https://secweb.rbi.org.in/orfsxbrl/. For
User name and password, Authorised Persons, who are Indian Agents under Money
Transfer Service Scheme (MTSS) are advised to submit the duly filled in form (Annex I)
through email on or before May 30, 2016.
4. FED Master Direction No. 18/2015-16 dated January 1, 2016 is being updated to
reflect the changes.
5.The directions contained in this circular have been issued under section 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,
(Shekhar Bhatnagar)
Chief General Manager-in- ChargeAnnex I
Contact Information Form* for creation of User id- MTSS Statement
(Fill in Capital Letters)
A. Name of the Indian
Agent
B. Contact Information DO NOT WRITE HERE
B.1 Name
B.2 Designation
B.3 Address DO NOT WRITE HERE
B.3.1
B.3.2 City
B.3.3 State
B.3.3 Pin code
B.4 Phone No DO NOT WRITE HERE
C.4.1 STD Code
C.4.2 Number
B.5 Fax DO NOT WRITE HERE
B.4.1 STD Code
B.4.2 Number
B.6 Email-1
B.7 Email-2
* Don’t keep any column blank. In future, any change should be informed
immediately to Email (fedaprd@rbi.org.in).
For RBI use only (Don't write anything below this line)
USER ID :
PASSWORD: