The Reserve Bank of India (RBI), vide its Notification dated
August 21, 2015, has launched a module for reporting of the form
FC-TRS (Foreign Currency Transfer of Shares) (required under
Foreign Direct Investment) through eBiz portal of the Ministry of
Commerce & Industry, Government of India. The form is for the
reporting of transfer of shares, convertible debentures, partly
paid shares and warrants from a person resident in India to a
person resident outside India or vice versa.
This is the third
service of its reporting service relating to Foreign Direct
Investment (FDI) that the RBI has launched on eBiz portal of the
Ministry. Other online filing of forms was launched on the eBiz
portal of the Ministry in February 2015.
The highlights of the particulars of the service are as
a) The service provided is for three types of users: Business
User, AD Bank User and the Department User;
b) The platform enables the customer to login into the eBiz
portal, download the reporting form (FCTRS), complete and then
upload the same onto the portal using their digitally signed
c) RBI has also issued the User Manual for the service in form
of Annexure for the convenience. Steps for submission of FC-TRS,
online payment, offline payment, etc., are provided in detail in
the user manual;
d) There are no payments to be made to RBI for submission of
FC-TRS. Applicant is required to pay a nominal eBiz transaction fee
(Rs.30/- as per the Manual) while submitting the application form
online through eBiz portal.;
e) Applicant can apply for Submission of FC-TRS at any time of
f ) Authorised Dealer Banks (ADs) will be required to download
the completed forms, verify the contents from the available
documents and if necessary, call for additional information from
the customer and then upload the same for RBI to process and allot
the Unique Identification Number (UIN) for the submission of such
g) FC-TRS services of RBI have been made operational on the
e-Biz platform from August 24, 2015.
h) The manual system of reporting as prescribed in terms of A.P.
(DIR Series) Circular No.6 dated July 18, 2014 would continue in
parallel with the online reporting facility up to three months from
August 24, 2015 as per the press release of the RBI. The physical
filing of returns will be discontinued thereafter.
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