| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / (Filing mode) |
| FEMA ACT 1999 | 15 July every year | Annual Return on Foreign liabilities and assets.
The FLA return is required to be submitted by the companies who have received Foreign direct investment (FDI) and/or made Foreign direct investment abroad in the previous year(s) including the current year |
FLA Return through Flair Portal: Click here |
| FEMA ACT 1999 | Monthly Basis | External Commercial Borrowings
Borrowers are required to report all ECB transactions to the RBI on a monthly basis through an AD Category – I Bank in the form of ‘ECB 2 Return’.
|
ECB 2 Return |
| FEMA ACT 1999 | Not later than 30 days from the date of issue of Capital instrument | FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India. | Form FC-GPR |
| FEMA ACT 1999 | With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier. | Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS.
The onus of reporting shall be on the resident transferor/ transferee. |
Form FC-TRS. |
| FEMA ACT 1999 | within 30 days from the date of receipt of the amount of consideration. | A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1 | Form FDI LLP-I |
| FEMA ACT 1999 | within 60 days from the date of receipt of funds in | A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa) | Form FDI LLP-II |
| FEMA ACT 1999 | within 30 days from the date of allotment of capital instruments | The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts | Downstream statement -Form DI & reporting at FIFP too |
- All applicants before raising any queries to RBI, may contact the respective AD bank as per the contact details provided under Contact Us. It may be noted that all Business user registrations as well as forms in SMF are processed at AD level. AD shall always be the first point of contact. All AD banks shall ensure that the queries from the applicants are answered correctly and in the timely manner.
Important Updates, April-2021:
- RBI caps bank MD, CEO tenure at 15 yrs, puts upper age limit of 70 years
The Reserve Bank of India (RBI) on Monday capped the tenure of MD, CEO and whole-time director (WTD) of private sector banks at 15 years and said the upper age limit for these posts will be 70 years. The central bank also fixed the maximum age limit for chairman and non-executive directors (NED) at 75 years.
“Subject to the statutory approvals required from time to time, the post of the MD and CEO or WTD cannot be held by the same incumbent for more than 15 years. Thereafter, the individual will be eligible for re-appointment as MD and CEO or WTD in the same bank, if considered necessary and desirable by the board, after a minimum gap of three years, subject to meeting other conditions,”
During the three-year cooling period, the individual cannot be appointed or associated with the bank or its group entities in any capacity, either directly or indirectly.
- RBI Monetary Policy: Key Highlights
- Monetary Policy Committee decides to retain its ‘Accommodative’ policy stance.
- the monetary policy in which it has kept the repo rate unchanged at 4%. Monetary Policy Committee decides to retain its ‘accommodative’ policy stance.
- the central bank will remain accommodative as long as necessary to sustain growth on a durable basis.
- RBI’s bend towards looking through inflationary pressures in current uncertain times and err in favour of growth
- RBI’s commitment to ensure smooth execution of government’s huge borrowing program by a separate G-sec Acquisition Program to purchase government bonds in FY22. This should help bond market sentiments.”
RBI Circulars / Notifications: April, 2021
| Particulars of the Circulars | Link |
| Sale of Electoral Bonds 2018 at Authorised Branches of State Bank of India (SBI) | Click here |
| Foreign Trade Policy 2015-2020 extended for 6 months till September 2021 | Click here |
| Government measures increase FDI inflows in the country; | Click here |
| Rs 2,74,034 crore Foreign Portfolio Investments (FPI) inflows in Indian equity markets | Click here |
| Finance Minister Smt. Nirmala Sitharaman attends Plenary Meeting of International Monetary and Financial Committee (IMFC) of IMF through video-conference | Click here |
| Investment by Foreign Portfolio Investors (FPI): Investment limits | Click here |
| Guidelines on Regulation of Payment Aggregators and Payment Gateways | Click here |
| Framework for processing of e-mandates for recurring online transactions | Click here |
| Master Circular – Facility for Exchange of Notes and Coins | Click here |
| Master Circular – Scheme of Penalties for bank branches including Currency Chests based on performance in rendering customer service to the members of public | Click here |
| Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances | Click Here |
| Master Circular – Disbursement of Government Pension by Agency Banks | Click Here |
| Amendment to Master Direction (MD) on KYC – KYC norms for Self Help Groups (SHGs) | Click Here |
| Master Circular – Lead Bank Scheme | Click Here |
| Gold Monetization Scheme (GMS), 2015 | Click Here |
| Priority Sector Lending (PSL) – Lending by banks to NBFCs for On-Lending | Click Here |
| External Commercial Borrowings (ECB) Policy – Relaxation in the period of parking of unutilised ECB proceeds in term deposits | Click Here |
| Asset Classification and Income Recognition following the expiry of Covid-19 regulatory package | Click Here |
| Reporting and Accounting of Central Government transactions of March 2021 – Change of date of closure | Click Here |
| Enhancement of limit of maximum balance per customer at end of the day from ₹1 lakh to ₹2 lakh – Payments Banks (PBs) | Click Here |
| Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit- Extension | Click here |
| RTGS System Upgrade – Non-Availability of Service – 00.00 Hrs to 14.00 Hrs. on Sunday, April 18, 2021 | Click here |
| Overseas Direct Investment for March 2021 | Click here |
| RBI Governor meets MD & CEOs of Public and Private Sector Banks over Video Conference | Click here |
| Constitution of the Regulations Review Authority 2.0 | Click here |
| RBI releases Names of Applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the Private Sector | Click here |
| Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (AACS) – United Cooperative Bank Limited, Bagnan Station Road (North), P.O. – Bagnan, Dist- Howrah, West Bengal – Extension of Period | Click here |
| Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| RBI launches Quarterly Order Books, Inventories and Capacity Utilisation Survey: January-March 2021 (Round 53) | Click here |
| Formation of new district in the State of Tamil Nadu – Assignment of Lead Bank Responsibility | Click here |
