Online A2 Forms to Cat II

[A.P. (DIR Series) Circular No. 02 dated April 12, 2023]

Sub: Authorised Dealers Category-II - Online submission of Form A2

Attention of Authorised Dealer (AD) Category-I banks and AD Category-II entities is invited to paragraph 4 of A.P. (DIR Series) Circular No. 50 dated February 11, 2016 on ‘Compilation of R-Returns: Reporting under FETERS’ in terms of which AD banks, offering internet banking facilities to their customers were permitted to allow online submission of Form A2.

2. It has now been decided to permit AD Category-II entities also to allow online submission of Form A2. AD Category-II entities shall frame appropriate guidelines with the approval of their Board within the ambit of extant statutory and regulatory frame work.

3. The terms and conditions mentioned in aforesaid A.P. (Dir Series) circular No. 50 dated February 11, 2016 shall continue to apply, as hitherto, to all Authroised Dealers. The relevant provisions of FEMA 1999, and ‘Master Direction – Know Your Customer (KYC) Direction, 2016’ as updated from time to time, issued by the Department of Regulation, RBI, have to be complied with by the ADs, for all transactions.

4. Authorised Dealers may bring the contents of this circular to the notice of their constituents.

5. 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.