Reporting under FDI Scheme on the E-BIZ Platform

The Government of India has on 12th February, 2015 notified the e-Biz project to enable reporting of Advance Remittance Form (“ARF”) and Foreign Currency Gross Provisional Return (“FC-GPR”) Form under the Foreign Direct Investment (“FDI”) scheme on the e-Biz platform with the Reserve Bank of India (“RBI”) to promote the ease of reporting of transactions. An ARF is filed by a Company to report FDI inflow to RBI and FC-GPR Form is filed by a Company to report RBI the issue of eligible instruments to the overseas investor against the FDI inflow.

The E-biz reporting platform enables the customer to login into the e-Biz portal, download the reporting forms i.e. ARF and FC-GPR, fill and duly complete the forms and upload it onto the portal using their digitally signed certificates. The Authorized Dealer Banks will be required to download the completed forms, verify the contents from the available documents, if necessary by calling for additional information from the customer and then upload the same for RBI to process and allot the Unique Identification Code.

The ARF and FC-GPR services are operational on the e-Biz platform from 19th February 2015. The online reporting is an additional facility to the Indian companies however the manual system of reporting would continue till further notice.

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