**Policy Summary:**
This circular, RBI/2015-16/402 A.P. DIR Series Circular No. 71, issued by the Reserve Bank of India (RBI) on May 19, 2016, mandates that all Authorised Dealer Category I (AD Cat I) banks submit the "Statement E" on total remittances received every quarter via the eXtensible Business Reporting Language (XBRL) system, commencing with the quarter ending June 2016. This replaces the previous reporting method outlined in A.P. DIR Series Circular No. 28/A. P. FLRL Series Circular No. 02 dated February 6, 2008, and A. P. DIR Series Circular No. 7 dated July 18, 2014.
The reporting platform is accessible at https://secweb.rbi.org.in/orfsxbrl. AD Cat I banks are required to submit the completed Annex I form to fedapr@rbi.org.in by May 30, 2016, to obtain their username and password for the XBRL system. Any future changes to the contact information provided in Annex I should be immediately communicated to fedapr@rbi.org.in.
This directive is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999). FED Master Direction No. 18/2015-16 dated January 1, 2016, is being updated to reflect these changes. Contact for this policy is Shekhar Bhatnagar, Chief General Manager-in Charge.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Mumbai, Maharashtra: The city in Maharashtra where the Reserve Bank of India's office mentioned in the document is located.
Authorised Dealer Category I Banks: A category of banks authorized by the Reserve Bank of India to deal in foreign exchange.
Rupee Drawing Arrangement: An arrangement that allows for the drawing of rupees.
A.P. DIR Series Circular No. 28: A circular issued by the Reserve Bank of India related to foreign exchange regulations.
A. P. FLRL Series Circular No. 02: A circular issued by the Reserve Bank of India related to foreign exchange regulations.
FED Master Direction No. 18/2015-16: A master direction issued by the Reserve Bank of India related to foreign exchange regulations.
Foreign Exchange Management Act, 1999: An act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
RESERVE BANK OF INDIA
Mumbai - 400 001
RBI/2015-16/402
A.P. (DIR Series) Circular No.71
May 19, 2016
To
All Authorised Dealer Category - I Banks
Rupee Drawing Arrangement - Submission of statement/returns under XBRL
Madam / Sir,
Attention of Authorised Dealer Category – I (AD Cat – I) banks is invited to the A.P.
(DIR Series) Circular No. 28 [A. P. (FL/RL Series) Circular No. 02] dated February 6,
2008 and the A. P. (DIR Series) Circular No. 7 dated July 18, 2014 in terms of which AD
Cat- I banks were required to submit statement E on total remittances received every
quarter.
2. Authorised Dealer Category – I (AD Cat – I) banks 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 Dealer Category – I (AD Cat – I) banks are
advised to submit the duly filled 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 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,
(Shekhar Bhatnagar)
Chief General Manager-in- ChargeAnnex I
Contact Information Form* for creation of User id- RDA Statement
(Fill in Capital Letters)
A. Name of the Bank
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: