The
Reserve Bank of India (RBI) vide RBI/2015-16/303 A.P. (DIR Series) Circular No.
40 on 01
February 2016, with a view to promoting the ease of reporting of transactions related
to Foreign Direct Investment, under the agency of “E-biz” project of
the Government of India has enabled online filing of the following:
- Advance Remittance Form (ARF) which is used by the companies to report the FDI inflows to RBI
- FC-GPR Form which a company submits to RBI for reporting the issue of eligible instruments to the overseas investor against the above mentioned FDI inflow; and
- FC-TRS Form which is submitted to RBI for transfer of securities between resident and person outside India.
At
present both the options, i.e. online filing and physical filing of
abovementioned forms, are available to the users.
It
has been decided that from February 8, 2016 the physical filing of forms ARF,
FC-GPR and FC-TRS will be discontinued and forms submitted in online mode only
through e-Biz portal will be accepted.
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