RBI INTRODUCES CHANGES IN THE ECB MONTHLY REPORTING THROUGH ECB 2 RETURN

RBI INTRODUCES CHANGES IN THE ECB MONTHLY REPORTING THROUGH ECB 2 RETURN

CHANGES IN PART E.1  and E.2 OF ECB 2 MONTHLY RETURN

It has been decided to capture the details of the hedges for ECBs through a simplified format of ECB 2 Return. Part E of the Return, accordingly, is modified so as to include only standard information on hedged/unhedged ECB exposure (Annex).

Details of hedging in Part E.1 of the Return and foreign exchange earnings and expenditure in Part E.2 of the Return should be furnished in additive format.

Further, for reporting in respect of natural hedge, provisions contained in paragraph 2 (iii) of A.P. (DIR Series) Circular No. 15 dated November 07, 2016 should be followed.

REVISED FORM ECB-2 WILL BE WITH EFFECT FROM END OF JUNE 2018

 Revised monthly reporting format of ECB 2 Return would be applicable from month-end June 2018.

Any Lapse will be considered as a Contravention under FEMA

It is reiterated that any lapse at the time of reporting through this return and / or failure to adhere to the time line of its submission and / or any lapse at the time of reporting through Form 83 is a contravention of the provision of Foreign Exchange Management Act, 1999 (42 of 1999).

PROVIDING PRACTICING COMPANY SECRETARIAL SERVICES For more details, please click the following link https://www.linkedin.com/company/r-v-seckar-co-practicing-company-secretary/