The Reserve Bank of India (RBI) on Thursday the 11th February, 2016 issued Circular, RBI/2015-16/317 A.P. (DIR Series) Circular No. 50, to Authorised Dealers Category-I (AD Category – I) banks relating to guidelines for compilation of R-Returns for reporting under the Foreign Exchange Transactions Electronic Reporting System (FETERS), RBI_A.P.(DIR Series)Circular No.101 dated 04.02. 2014 on Export of Goods and Services: Export Data
Processing and Monitoring System (EDPMS) for facilitating banks to submit export-related information through EDPMS platform and RBI_A.P.(DIR Series) Circular No.15 dated 28.07.2014 which discontinued separate reporting of information in ENC (Export Bills Negotiated / sent for collection) for acknowledgement of receipt of export documents and Sch.3 to 6 (realization of export proceeds) under FETERS.
Web based data submission by AD bank under the form FETERS from first fortnight of April, 2016, (i.e. reporting of those transactions for submission of data under the FETERS
The RBI has revised Form A2: for Application for remit abroad and with a view to facilitating miscellaneous remittances and reducing paperwork associated with payment transactions, it has been decided that Authorised Dealer banks, offering internet banking facilities to their customers may allow online submission.
The said circular can be accessed at the following link: RBI_2015-16_317_A.P. (DIR Series) Circular No. 50_11.02.2016