Money Transfer
Agents to Report Online in XBRL System
[RBI
Circular No. 70 dated 19th May 2016]
Sub: Money
Transfer Service Scheme - Submission of statement/returns under XBRL
Attention of Authorised Persons, who are
Indian Agents under Money Transfer Service Scheme (MTSS) is invited to the A.P. (DIR Series) Circular No. 89 dated
March 12, 2013 in terms of which all Authorised Persons, who are Indian Agents
under Money Transfer Service Scheme were required to submit quarterly statement
of the quantum of remittances received in the prescribed format.
2. All
Authorised Persons, who are Indian Agents under Money Transfer Service Scheme
(MTSS) are now advised to report the above mentioned statement in eXtensible Business Reporting Language (XBRL) system from
the quarter ending June 2016.
3. The
reporting platform may be accessed at https://secweb.rbi.org.in/orfsxbrl/. For User name and password, Authorised
Persons, who are Indian Agents under Money Transfer Service Scheme (MTSS) are
advised to submit the duly filled in form (Annex I) through email on
or before May 30, 2016.
4. FED
Master Direction No. 18/2015-16 dated January 1, 2016 is being updated to
reflect the changes.
5. The
directions contained in this circular have been issued under section 10(4) and
11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are
without prejudice to permissions / approvals, if any, required under any other
law.