AD‑1 Category Banks need to file half yearly BEF Statement in XBRL Format

RBI/2014–15/643 A.P.(DIR Series) Cir­cu­lar No. 110

June 18, 2015

Atten­tion of Autho­rised Deal­er Cat­e­go­ry — I (AD Cat­e­go­ry — I) banks is invit­ed to A.P (DIR Series) Cir­cu­lar No.106 dat­ed June 19, 2003 and A.P. (DIR Series) Cir­cu­lar No.09 dat­ed August 18, 2003, in terms of which AD Cat­e­go­ry — I banks were required to sub­mit BEF state­ment, to respec­tive region­al offices of Reserve Bank of India, in the pre­scribed for­mat, on half year­ly basis.

2. It has been decid­ed to move from man­u­al report­ing of above men­tioned state­ment to eXten­si­ble Busi­ness Report­ing Lan­guage (XBRL) sys­tem from half year end­ed June 2015. With effect from the half year end­ing June 2015, BEF sub­mis­sion would be online and Bank-wise instead of the present sys­tem of branch-wise sub­mis­sion, to the respec­tive Region­al Offices of the RBI.

3. Ear­li­er, banks used to sub­mit BEF data in part I & II on incre­men­tal basis. How­ev­er, in the pro­posed mod­ule, AD banks have to sub­mit data in a sin­gle for­mat (Annex I) giv­ing details of all remit­tances for import exceed­ing USD 100,000, as on end of June and Decem­ber of every year, in respect of which importers have default­ed in sub­mis­sion of appro­pri­ate doc­u­ment evi­denc­ing  import with­in 6 months from the date of remit­tance. All oth­er instruc­tions  remain unchanged.

4. The details may be accessed at https://secweb.rbi.org.in/orfsxbrl/. For User name and pass­word, AD banks are advised to sub­mit the fill-in form (Annex II) through email on or before June 26, 2015.

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,

(B. P. Kanungo)
Prin­ci­pal Chief Gen­er­al Manager