Reporting Format for Representative Offices of Foreign Banks in India has been Revised

Rep­re­sen­ta­tive Offices of for­eign banks in India are cur­rent­ly required to sub­mit information/documents on an annu­al basis to Reserve Bank of India as under:

i) a cer­tifi­cate from the audi­tor to the effect that dur­ing the year no income was earned by/ accrued to the office in India,

ii) cer­ti­fied copy of the audit­ed final accounts of the office in India,

iii) details of remit­tances received from abroad duly sup­port­ed by bank cer­tifi­cates and

iv) an annu­al report of the work done by the office in India.

2. On a review, it has been decid­ed to revamp the exist­ing sys­tem of report­ing. The revised for­mat of report­ing is giv­en in Annex and the same would be effec­tive from the next report­ing cycle. You are, there­fore, advised to sub­mit the infor­ma­tion per­tain­ing to your rep­re­sen­ta­tive office as per the revised format.

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