Returns on
Foreign Currency Holdings
[Ref: A .P. (DIR Series) Circular
No.
3 dated August 10, 2017]
Subject: Risk Management and Interbank Dealings- Reports to
the
Reserve Bank
Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA. 25/RB-2000 dated May 3, 2000) and Master Directions on
Risk Management and Inter-Bank Dealings dated July 5, 2016 as amended from
time
to time.
2. In terms of para (viii)
under Part-E (Reports to the Reserve Bank) of the aforementioned master direction, the Head/Principal
Office of AD
Category-I banks are
required to submit a statement in
form BAL giving details of their holdings of all foreign
currencies on fortnightly basis through Online Returns Filing System (ORFS) within
seven calendar
days from the close of the reporting period to which it relates. It has
now
been decided that w.e.f.
August 16, 2017 (i.e. for the statement of first fortnight of
August 2017) this
statement may be
submitted
through
the
web
portal
at https://bop.rbi.org.in as per the format given in Annexure I.
3. In terms of para (ii) under
Part-E of the aforementioned master direction,
Head/Principal Office of AD Cat-I banks are required to submit a monthly statement of Nostro/Vostro account balances. It has
now
been decided to discontinue this
report.
4. 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 is without prejudice to permissions / approvals, if any, required under
any other
law.