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Compilation of R-Returns: Reporting under FETERS
By TII News Service
Mar 20, 2019 , Mumbai

    

A.P. (DIR Series)

CIRCULAR NO

25/Dated: March 20, 2019

To,

All Authorised Dealers in Foreign Exchange

Compilation of R-Returns: Reporting under FETERS

Attention of Authorised Dealer (Category I) banks is invited to A.P. (DIR Series) Circular No.84 dated February 29, 2012, A.P. (DIR Series) Circular No.15 dated July 28, 2014 and A.P (DIR Series) Circular No.50 dated February 11, 2016 giving guidelines for compilation of R-Returns for reporting under the Foreign Exchange Transactions Electronic Reporting System (FETERS).

2. In order to facilitate compilation of estimates of bilateral trade in services, it has been decided to incorporate an additional field for capturing the country code of ultimate exporter/importer in the BoP file-format under FETERS. In case of export of services, bank may use the transaction information available with them to report country-code of the ultimate exporting country, whereas Form-A2 is being revised here for capturing the required country information for import of services.

3. The details of the additional field is as follows:

i. BoP file-format under FETERS

Field
Format
Remarks
Country Code (SWIFT Code) of ultimate exporter/importer
Char(2)
To be added at the end of BOP file format

ii. Form A2 - If payment is for import of services (Purpose Group Nos. 02, 03, 05, 06, 07, 08, 09 10, 11, 15, 16 or 17), please indicate:

"Name of the country providing ultimate services: ....................."

The Form A2 (revised) and the file format (revised) of the BOP file for reporting under FETERS are given in Annex I and Annex II, respectively.

4. The revised format is for reporting of R-Returns on fortnightly basis (15th and end-month) for forex transactions performed w.e.f. April 01, 2019. AD Banks should make the required changes in their work-flows and information systems to capture the required additional data accordingly to comply with the guidelines.

5. 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 are without prejudice to permissions / approvals, if any, required under any other law.

[RBI/2018-2019/145]

(Ajay Kumar Mishra)
Chief General Manager -in -Charge

Annex I

FORM A2

(To be completed by the applicant)

(For payments other than imports of goods and remittances covering intermediary trade)
AD Code No..................
Form No...................
(To be filled in by the Authorised Dealer)
Currency..................Amount ..................Equivalent to Rs..................

Application for Remittance Abroad
(To be completed by the Authorised Dealer)

I/We...........................................................................................................

(Name of applicant remitter)

PAN No............................................................................................

Address............................................................................................ authorize.......................................

(Name of AD branch)

To debit my Savings Bank/ Current/ RFC/ EEFC A/c. No........................................... together with their charges and

a) Issue a draft: Beneficiary's Name..............................................................

Address .................................................................................

b) Effect the foreign exchange remittance directly –

1) Beneficiary's Name.................................................................................

2) Name and address of the bank.................................................................................

3) Account No. .................................................................................

c) Issue travellers cheques for

d) Issue foreign currency notes for

Amount (specify currency)

(Strike out whichever is not applicable) for the purpose/s indicated below

2) To be filled in by residents only if the remittance is made under LRS

Sr. No.
Whether under LRS (Yes/No)
Purpose Code
Description
       

(3) Payment for import of services (Purpose Group Nos. 02, 03, 05, 06, 07, 08, 09 10, 11, 15, 16 or 17), please indicate:

"Name of the country providing ultimate services: ……………."

(Remitter should put a tick (√) against an appropriate purpose code. In case of doubt/ difficulty, the AD bank should be consulted).

Declaration

(Under FEMA 1999)

1. I, ………………. …………(Name), hereby declare that the total amount of foreign exchange purchased from or remitted through, all sources in India during the financial year including this application is as per the extant FEMA Regulations and certify that the source of funds for making the said remittance belongs to me and the foreign exchange will not be used for prohibited purposes / Foreign exchange purchased from you is for the purpose indicated above.

Details of the remittances made/transactions effected under the Liberalised Remittance Scheme in the current Financial Year (April-March)…………

Sr. No.
Date
Amount
Name and address of AD branch/FFMC through which the transaction has been effected
 
 
 
 

Signature of the applicant

(Name)

Date:

Certificate by the Authorised Dealer

This is to certify that the remittance is not being made by/ to ineligible entities and that the remittance is in conformity with the instructions issued by the Reserve Bank from time to time under the Scheme.

Name and designation of the authorised official:

Stamp and seal

Signature:

Date:

Annex II

FETERS File Layouts

1. BANKCODE_BOP6.TXT relating to transactions involving sale and purchase of foreign exchange (excluding inter-office, inter-bank, RBI transactions) during the reporting fortnight

Field
Format
Remarks
AD Code
Char (7)
BSR Part-1 Uniform Code
Fortnight-end Date
YYYYMMDD
 
Transaction Date
YYYYMMDD
Valid date within fortnight
Serial No.
Num. (4)
 
Purpose Code
Char (5)
Purpose code starting with P/S (Part A/B of Annex I)
Country Code
Char (2)
SWIFT code
Currency Code
Char (3)
SWIFT code
Amount [in Foreign Currency (FC)]
Num. (15)
 
Date of Shipment
YYYYMMDD
 
LC
char (1)
1 for Yes; 0 for No
Country of Vostro a/c Holder
char (2)
SWIFT code
Country Code of ultimate exporter/importer
Char (2)
SWIFT Code

2. BANKCODE_QE.TXT for Cover Page Totals

Field
Format
Remarks
A.D. Code Char (7)  
Fortnight-end date YYYYMMDD  
Serial Number Num. (4)  
Purpose Code Char (5) As per Part C of Annex I
Country of Vostro A/c holder Char (2)  
Currency Char (3)  
Amount in Currency Num. (15)  
Return (Vostro/Nostro) Char (1) V for Vostro; N for Nostro
 
 
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