Reporting under FEMA is a cornerstone of India's foreign exchange regulatory framework. The RBI's Master Direction lays down detailed compliance requirements to ensure transparency in cross-border transactions.
Key Highlights –
‣ Money Changing – FFMCs & AD Banks must maintain registers, statements, and file quarterly/annual returns
‣ Remittances (MTSS & RDA) – Indian agents and banks report inward personal transfers and vostro account operations
‣ Liberalised Remittance Scheme (LRS) – Daily reporting via CIMS & FETERS, with reconciliation
‣ FDI & FPI – Use the FIRMS portal with SMF (FC-GPR, FC-TRS, FLA, etc.) for capital instruments, portfolio investments, and LLP contributions
‣ ECB & Bonds – ECB forms and monthly ECB-2 return for borrowings, FCCBs, FCEBs, preference shares
‣ ODI & OPI – Form FC, APR, FLA, and OPI reporting for overseas investments
‣ Exports & Imports – EDF, SOFTEX, EDPMS, BEF, CIMS, and XBRL-based returns for monitoring forex inflows and outflows
