DISCONTINUANCE OF PHYSICAL FILING OF
FORMS -ARF, FCGPR AND FC-TRS FROM FEBRUARY 8, 2016 UNDER FEMA
Foreign Direct
Investment –Reporting under FDI Scheme, Mandatory filing of form ARF, FCGPR and
FCTRS on e-Biz platform and discontinuation of physical filing from February 8,
2016
With a view to
promoting the ease of reporting of transactions related to Foreign Direct
Investment (FDI), the Reserve Bank of India, under the aegis of the e-Biz
project of the Government of India has enabled online filing of the following
returns with the Reserve Bank of India viz.
– Advance
Remittance Form (ARF) which is used by the companies to report the FDI inflows
to RBI;
– FCGPR Form which a company submits to RBI for reporting
the issue of eligible instruments to the overseas investor against the above
mentioned FDI inflow; and
– FCTRS Form
which is submitted to RBI for transfer of securities between resident and
person outside India.
Based on the
experience it has been decided that beginning February 8,
2016 the physical filing of forms ARF, FCGPR and FC-TRS will be discontinued and forms submitted in online mode only through e-Biz
portal will be accepted.
Banks may bring the contents of this circular to the notice
of their customers / constituents concerned. They are advised to extend
necessary guidance/ assistance to their constituents for uploading the
abovementioned forms on the e-Biz platform.
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.
Ref: RBI/2015-16/303 A.P. (DIR Series) Circular No. 40
Date: February 01, 2016
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