RBI
INTRODUCES SINGLE MASTER FORM (SMF) FOR
REPORTING Foreign investment in India(FDIs) .
The Main
Objective of SMF FORM
With an objective of
integrating the extant reporting structures of various types of foreign
investment in India, RBI will introduce a Single Master Form (SMF).
The SMF would be filed online.
SMF for Direct FDI and through
Investment Vehicle Route
SMF would provide a
facility for reporting total foreign investment in an Indian entity {as defined
in Foreign Exchange Management (Transfer or issue of security by a person
resident outside India) Regulations 2017, dated November 7, 2017}, as also
investment by persons resident outside India in an Investment Vehicle.
Prior to
implementation, RBI will provide an interface to Indian entities to input data
on foreign investment in specified format between June 28, 2018 to July 12,
2018.
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NON-COMPLAINT INDIAN
COMPANIES
CANNOT RECEIVE FDIs
Entities not complying with this prerequisite will not be
able to receive foreign investment and will be non-compliant with FEMA,1999.
The entities may be in
readiness with the requirements to be provided in the Entity Master at Annex 1.
The format of the SMF is at Annex 2. The final form, when hosted, will be
available in the Master Direction-Reporting under FEMA, 1999.
1. All Indian Entities needs to provide till date all the foreign investments received by them which will be called Entity Master Data and the format is provided in Annex 1 of said notification.
2. For any subsequent foreign investments, an Integrated reporting structure of various types of foreign investment introduced which will be called Single Master Form (SMF). The format of the SMF is at Annex 2 of said notification.
ENTITY MASTER DATA -Annex I
Subsequent Investments in Annex 2
2. For any subsequent foreign investments, an Integrated reporting structure of various types of foreign investment introduced which will be called Single Master Form (SMF). The format of the SMF is at Annex 2 of said notification.
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