Reserve bank of India
A. P. (DIR Series) Circular No. 106
May 23, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Liberalised Remittance Scheme for Resident Individuals – Reporting
Attention of all Authorised Dealer Category - I (AD Category - I) banks is
invited to
A. P. (DIR Series) Circular No.36 dated April 04, 2008, in terms of
which, AD Category -I banks were required to furnish information on the number
of applications received and the total amount remitted under the Liberalised
Remittance Scheme (the Scheme), on a monthly basis, in the prescribed format in
both hard copy as well as soft copy in Excel format. All AD banks were also
advised to submit the monthly statement before 5th of the succeeding month to
the Reserve Bank of India.
- Since October 2008, AD Banks were required to submit the LRS data through the
Online Returns Filing System (ORFS) of Reserve Bank, in addition to submitting
the same in hard copy.
- It has now been decided, to collect the data in soft form only and to
dispense with the submission of hard copies of the monthly statements by the AD
banks. Accordingly, with effect from July 01, 2013, AD Category – I banks are
required to upload the data (LRS data of June 2013) in ORFS on or before fifth
of the following month. Where there is no data to furnish, AD banks are advised
to upload ‘nil’ figures in the ORFS system.
- AD banks can upload the LRS data by accessing ORFS through the URL
https://secweb.rbi.org.in/ORFSMainWeb as hitherto.
- In case any clarifications are required, AD banks may send their queries
through e-mail or contact by phone at 22601000 extn:2676 or 22701232 (direct)
- The directions contained in this circular have been issued under Sections
10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and
are without prejudice to permissions / approvals, if any, required under any
other law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager-in-Charge
RBI/2012-13/504