Stat 5 and Stat 8 Returns to Discontinue
from March 2015
[Ref: A.P (DIR Series) Circular No.85
dated March 18, 2015]
Subject:
Non-Resident Deposits - Stat 5 and Stat 8 Returns – Discontinuation
Attention of banks maintaining Non-Resident
Deposits (NRD) Accounts is invited to A.P. (DIR Series) Circular No. 4 dated
July 12, 2012 and A.P. (DIR Series) Circular No. 19 dated August 7, 2013
regarding submission of Stat 5 and Stat 8 Returns and moving the NRD-CSR
reporting to XBRL platform.
2.
As banks’ submission of NRD-CSR data in XBRL platform has stabilised,
it has been decided to discontinue the submission of Stat 5 and Stat 8 Returns
from March 2015. Accordingly banks, dealing in foreign exchange may stop
sending Stat 5 and Stat 8 Returns (both hard and soft copies) to the Department
of Statistics and Information Management, Reserve Bank of India.
3. 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.