REPORTING UNDER FETERS (Foreign Exchange Transactions Electronic Reporting System)

By | May 9, 2016
(Last Updated On: May 9, 2016)


A.P. (DIR SERIES 2015-16) CIRCULAR NO.50, DATED 11-2-2016

Attention of Authorised Dealer (Category I) banks is invited to A.P.(DIR Series) Circular No.84 dated February 29, 2012 giving guidelines for compilation of R-Returns for reporting under the Foreign Exchange Transactions Electronic Reporting System (FETERS), A.P.(DIR Series) Circular No.101 dated February 4, 2014 on Export of Goods and Services: Export Data Processing and Monitoring System (EDPMS) for facilitating banks to submitexport-related information through EDPMS platform and A.P.(DIR Series) Circular No.15 dated July 28, 2014which discontinued separate reporting of information in ENC (Export Bills Negotiated / sent for collection) for acknowledgement of receipt of export documents and Sch.3 to 6 (realization of export proceeds) under FETERS.

Web based data submission by AD banks

2. In order to enhance the security-level in data submission and further improve data quality, the following modifications shall be effected in the guidelines for submission of data under the FETERS from 1st fortnight of April 2016 (i.e., reporting of those transactions which take place from April 1, 2016):

(i)The present email-based submission will be replaced by web-portal based data submission. However, there are no changes in periodicity, file-layout, delimiter, consistency checks, and inter-relationship among BOP6.TXT and QE.TXT files as well as their naming convention.
(ii)Nodal offices of banks have to access the web-portal with the RBI-provided login-name and password, to submit data (Contact and other details are given in the above-mentioned Circular dated February 29, 2012).
(iii)Banks may download RBI-provided validator template from this portal on their computer and perform off-line check of their FETERS data-file for error, if any, before its submission on the portal. Both Java-based and Excel-based validators are provided: Use of Java-based validator is advised for larger files. This portal also gives relevant master files (e.g., country, currency, AD code, purpose code masters).
(iv)On uploading validated files, banks will get acknowledgment. They can view the data-files submitted by them during the previous two fortnights, with download facility. They can also revise the purpose codes for transaction submitted earlier, if required, which will be authenticated by RBI in the system.
(v)Banks may report (a) addition of AD code for their bank and (b) update AD category, which will be incorporated in the AD-master database by RBI after due authentication.
(vi)With the discontinuation of ENC.TXT and SCH3to6.TXT files in FETERS, the purpose codes P0105 [Export bills (in respect of goods) sent on collection – other than Nepal and Bhutan] and P0107 [Realisation of NPD export bills (full value of bill to be reported) – other than Nepal and Bhutan] have become defunct and are, therefore, discontinued.

Revision in Form A2

3. Further, in-order to streamline the reporting of the transactions relating to the Liberalised Remittance Scheme (LRS) in FETERS and On-line Return Filing System (ORFS), it has been decided that transactions relating to LRS may be reported under respective FETERS purpose codes (e.g. travel, medical treatment, purchase of immovable property, studies abroad, maintenance of close relatives; etc.) instead of reporting collectively underthe purpose code S0023. This would help AD banks in classification of transactions for similar activity undersingle purpose code. Therefore, the purpose code S0023 would be revised as follows to enable reporting of ‘Opening of foreign currency account abroad with a bank’:

Purpose CodeDescription as per the A.P.(DIR Series) Circular No.84 dated February 29, 2012 and in Form A2Revised Description
S0023Remittances made under Liberalised Remittance Scheme (LRS) for IndividualsOpening of foreign currency account abroad with a bank
i.For facilitating the existing monthly reporting of LRS transactions under ORFS, AD banks may use the following purpose codes only:
Sr. No.Items under LRSCorresponding FETERS purpose codes, if transaction is identified under LRS
1Opening of foreign currency account abroad with a bank under LRSS0023
2Purchase of immovable propertyS0005
3Investment in equity, debt, JV, WoS, ESOPs, IDRsS0001, S0002, S0003, S0004, S0021, S0022
6Travel (business, pilgrimage, medical treatment, education, employment, personal)S0301, S0303, S0304 ,S0305 & S0306
7Maintenance of close relativesS1301
8Medical TreatmentS1108
9Studies abroadS1107
11‘Others’ such as loan to NRI close relatives and health insuranceS0011, S0603
ii.AD banks should also ensure that the data pertaining to LRS transactions reported by them in FETERS tallies with that reported by them in ORFS.
iii.The Form A2 is also being revised (as per Annex) by introducing a check-box for LRS transactions in the relevant block as follows:
Sr. No.Whether under LRS (Yes/No)Purpose CodeDescription
As per the Annex
iv.Further, the ‘Application cum Declaration for purchase of foreign exchange under the Liberalised Remittance Scheme of USD 250,000’ has been clubbed with Form A2 inorder to reduce multiplicity of forms to be filled in by the customers.

Online submission of Form A2 by the remitter

4. With a view to facilitating miscellaneous remittances and reducing paperwork associated with payment transactions, it has been decided that Authorised Dealer banks, offering internet banking facilities to their customers may allow online submission of Form A2. Besides, they may also enable uploading/submission of documents, if and as may be necessary, to establish the permissibility of the remittances under the extant rules or regulations framed under the Foreign Exchange Management Act, 1999 (FEMA). Remittances that do not require any documentation (e.g. certain transactions under the LRS) may be put through on the basis of the Form A2 alone. To start with, remittances on the basis of online submission alone will be available for transactions with an upper limit of USD 25,000 (or its equivalent) for individuals and USD 100,000 (or its equivalent) for corporates. It may be noted that the remittance will be subject to satisfaction of the Authorised Dealer banks as laid down in Section 10 (5) of FEMA. Accordingly, Authorised Dealer banks are advised to frame appropriate guidelines for customer interface personnel to ensure ease of transactions for the customers within the ambit of the statutory/regulatory provisions. It may be further noted that reporting of transactions in FETERS shall continue, as hitherto, by the Authorised Dealer banks.

5. Appropriate changes in technology and/or operating procedure may be carried out by Authorised dealer banks immediately and compliance in this regard furnished to RBI.

6. The changes introduced through this circular may be implemented with immediate effect and in any case not later than April 1, 2016.

7. Authorised Dealer banks may bring the contents of this circular to the notice of their constituents.

8. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.



(To be completed by the applicant)

FORM A2AD Code No.___________________________
Form No. __________________________
(To be filled in by the Authorised Dealer)
(For payments other than imports and remittances covering intermediary  trade)
Currency____ Amount ___Equivalent to Rs. ____
(To be completed by the Authorised Dealer)

Application for Remittance Abroad

I/We _____________________________________________________________________

(Name of applicant remitter)

PAN No. _________________________________________________________________

(For remittances exceeding USD 25,000 and for all capital account transactions)

Address _________________________________________________________________



(Name of AD branch)

To debit my Savings Bank/ Current/ RFC/ EEFC A/c. No. _______________________ together with their charges and

* (a) Issue a draft : Beneficiary’s Name_______________________
*(b) Effect the foreign exchange remittance directly —
(1) Beneficiary’s Name_______________________
(2) Name and address of the bank_______________________
(3) Account No._______________________
* (c) Issue travelers cheques for_______________________
* (d) Issue foreign currency notes for Amount (specify currency)_______________________

* (Strike out whichever is not applicable) for the purpose/s indicated below

Sr. No.Whether under LRS (Yes/No)Purpose CodeDescription
As per the Annex

(Remitter should put a tick (√) against an appropriate purpose code. In case of doubt/ difficulty, the AD bank should be consulted).


(Under FEMA 1999)

1. # I, ………………. …………(Name), hereby declare that the total amount of foreign exchange purchased from or remitted through, all sources in India during the financial year including this application is within the overall limit of the Liberalised Remittance Scheme prescribed by the Reserve Bank of India and certify that the source of funds for making the said remittance belongs to me and the foreign exchange will not be used for prohibited purposes.

Details of the remittances made/transactions effected under the Liberalised Remittance Scheme in the current financial year (April- March) ..……..

Sl. No.DateAmountName and address of AD branch/FFMC through which the transaction has been effected

2. # The total amount of foreign exchange purchased from or remitted through, all sources in India during this calendar year including this application is within USD____________________ (USD ____________________ ) the annual limit prescribed by Reserve Bank of India for the said purpose.

3. # Foreign exchange purchased from you is for the purpose indicated above.

# (Strike out whichever is not applicable)

Signature of the applicant



Certificate by the Authorised Dealer

This is to certify that the remittance is not being made by/to ineligible entities and that the remittance is in conformity with the instructions issued by the Reserve Bank from time to time under the Scheme.

Name and designation of the authorised official:


Stamp and seal




Purpose Codes for Reporting under FETERS

A. Payment Purposes (for use in BOP file)

Gr. No.Purpose Group NamePurpose CodeDescription
00Capital AccountS0017Acquisition of non-produced non-financial assets (Purchase of intangible assets like patents, copyrights, trademarks etc., land acquired by government, use of natural resources) –
S0019Acquisition of non-produced non-financial assets (Purchase of intangible assets like patents, copyrights, trademarks etc., use of natural resources) – Non-Government
S0026Capital transfers (Guarantees payments, Investment Grand given by the government/international organisation, exceptionally large Non-life insurance claims) – Government
S0027Capital transfers (Guarantees payments, Investment Grand given by the Non-government, exceptionally large Non-life insurance claims) – Non-Government
S0099Other capital payments not included elsewhere
Financial Account
Foreign Direct InvestmentsS0003Indian Direct investment abroad (in branches & wholly owned subsidiaries) in equity Shares
S0004Indian Direct investment abroad (in subsidiaries and associates) in debt instruments
S0005Indian investment abroad – in real estate
S0006Repatriation of Foreign Direct Investment made by overseas Investors in India – in equity shares
S0007Repatriation of Foreign Direct Investment in made by overseas Investors India – in debt instruments
S0008Repatriation of Foreign Direct Investment made by overseas Investors in India – in real estate
Foreign Portfolio InvestmentsS0001Indian Portfolio investment abroad – in equity shares
S0002Indian Portfolio investment abroad – in debt instruments
S0009Repatriation of Foreign Portfolio Investment made by overseas Investors in India – in equity shares
S0010Repatriation of Foreign Portfolio Investment made by overseas Investors in India – in debt instruments
External Commercial BorrowingsS0011Loans extended to Non-Residents
S0012Repayment of long & medium term loans with original maturity above one year received from Non-Residents
Short term LoansS0013Repayment of short term loans with original maturity up to one year received from Non-Residents
Banking CapitalS0014Repatriation of Non-Resident Deposits (FCNR(B)/NR(E)RA
S0015Repayment of loans & overdrafts taken by ADs on their own
S0016Sale of a foreign currency against another foreign currency
Financial Derivatives and OthersS0020Payments made on account of margin payments, premium payment and settlement amount etc. under Financial derivative
S0021Payments made on account of sale of share under Employee stock option
S0022Investment in Indian Depositories Receipts (IDRs)
S0023Opening of foreign currency account abroad with a bank
External AssistanceS0024External Assistance extended by India. e.g. Loans and advances extended by India to Foreign governments under
S0025Repayments made on account of External Assistance received by India.
01ImportsS0101Advance payment against imports made to countries other than Nepal and Bhutan
S0102Payment towards imports- settlement of invoice other than Nepal and Bhutan
S0103Imports by diplomatic missions other than Nepal and Bhutan
S0104Intermediary trade/transit trade, i.e., third country export passing through India
S0108Goods acquired under merchanting / Payment against import leg of merchanting trade*
S0109Payments made for Imports from Nepal and Bhutan, if any
02TransportS 0201Payments for surplus freight/passenger fare by foreign shipping companies operating in India
S0202Payment for operating expenses of Indian shipping companies operating abroad
S0203Freight on imports – Shipping companies
S0204Freight on exports – Shipping companies
S0205Operational leasing/Rental of Vessels (with crew) –Shipping companies
S0206Booking of passages abroad – Shipping companies
S0207Payments for surplus freight/passenger fare by foreign Airlines companies operating in India
S0208Operating expenses of Indian Airlines companies operating
S0209Freight on imports – Airlines companies
S0210Freight on exports – Airlines companies
S0211Operational leasing / Rental of Vessels (with crew) – Airline companies
S0212Booking of passages abroad – Airlines companies
S0214Payments on account of stevedoring, demurrage, port handling charges etc.(Shipping companies)
S0215Payments on account of stevedoring, demurrage, port handling charges, etc.(Airlines companies)
S0216Payments for Passenger – Shipping companies
S0217Other payments by Shipping companies
S0218Payments for Passenger – Airlines companies
S0219Other Payments by Airlines companies
S0220Payments on account of freight under other modes of transport (Internal Waterways, Roadways, Railways, Pipeline transports and others)
S0221Payments on account of passenger fare under other modes of transport (Internal Waterways, Roadways, Railways, Pipeline transports and others)
S0222Postal & Courier services by Air
S0223Postal & Courier services by Sea
S0224Postal & Courier services by others
03TravelS0301Business travel.
S0303Travel for pilgrimage
S0304Travel for medical treatment
S0305Travel for education (including fees, hostel expenses etc.)
S0306Other travel (including holiday trips and payments for settling international credit cards transactions)
05Construction ServicesS0501Construction of projects abroad by Indian companies including import of goods at project site abroad
S0502cost of construction etc. of projects executed by foreign companies in India.
06Insurance and Pension ServicesS0601Life Insurance premium except term insurance
S0602Freight insurance – relating to import & export of goods
S0603Other general insurance premium including reinsurance premium; and term life insurance premium
S0605Auxiliary services including commission on insurance
S0607Insurance claim Settlement of non-life insurance; and life insurance (only term insurance)
S0608Life Insurance Claim Settlements
S0609Standardised guarantee services
S0610Premium for pension funds
S0611Periodic pension entitlements e.g. monthly quarterly or yearly payments of pension amounts by Indian Pension Fund
S0612Invoking of s tandardised guarantees
07Financial ServicesS0701Financial intermediation, except investment banking – Bank charges, collection charges, LC charges etc.
S0702Investment banking – brokerage, under writing commission
S0703Auxiliary services – charges on operation & regulatory fees, custodial services, depository services etc.
08Telecommunic ation, Computer & Information ServicesS0801Hardware consultancy/implementation
S0802Software consultancy / implementation
S0803Data base, data processing charges
S0804Repair and maintenance of computer and software
S0805News agency services
S0806Other information services- Subscription to newspapers,
S0807Off-site software imports
S0808Telecommunication services including electronic mail services and voice mail services
S0809Satellite services including space shuttle and rockets etc.
09Charges for the use of intellectual property n.i.eS0901Franchises services
S0902Payment for use, through licensing arrangements, of produced originals or prototypes (such as manuscripts and films), patents, copyrights, trademarks and industrial processes etc.
10Other Business ServicesS1002Trade related services – commission on exports / imports
S1003Operational leasing services (other than financial leasing) without operating crew, including charter hire- Airlines companies
S1004Legal services
S1005Accounting, auditing, book-keeping services
S1006Business and management consultancy and public relations
S1007Advertising, trade fair service
S1008Research & Development services
S1009Architectural services
S1010Agricultural services like protection against insects & disease, increasing of harvest yields, forestry services.
S1011Payments for maintenance of offices abroad
S1013Environmental Services
S1014Engineering Services
S1015Tax consulting services
S1016Market research and public opinion polling service
S1017Publishing and printing services
S1018Mining services like on–site processing services analysis of
S1020Commission agent services
S1021Wholesale and retailing trade services.
S1022Operational leasing services (other than financial leasing) without operating crew, including charter hire- Shipping
S1023Other Technical Services including scientific/space services.
S1099Other services not included elsewhere
11Personal, Cultural & Recreational servicesS1101Audio-visual and related services like Motion picture and video tape production, distribution and projection services.
S1103Radio and television production, distribution and transmission services
S1104Entertainment services
S1105Museums, library and archival services
S1106Recreation and sporting activities services
S1107Education (e.g. fees for correspondence courses abroad)
S1108Health Service (payment towards services received from hospitals, doctors, nurses, paramedical and similar services etc. rendered remotely or on-site)
S1109Other Personal, Cultural & Recreational services
12Govt. not included elsewhere (G.n.i.e.)S1201Maintenance of Indian embassies abroad
S1202Remittances by foreign embassies in India
13Secondary IncomeS1301Remittance for family maintenance and savings
S1302Remittance towards personal gifts and donations
S1303Remittance towards donations to religious and charitable institutions abroad
S1304Remittance towards grants and donations to other governments and charitable institutions established by the
S1305Contributions/ donations by the Government to international institutions
S1306Remittance towards payment / refund of taxes.
S1307Outflows on account of migrant transfers including personal
14Primary IncomeS 1401Compensation of employees
S1402Remittance towards interest on Non-Resident deposits (FCNR(B)/NR(E)RA, etc.)
S1403Remittance towards interest on loans from Non-Residents (ST/MT/LT loans) e.g. External Commercial Borrowings, Trade Credits, etc.
S1405Remittance towards interest payment by ADs on their own account (to VOSTRO a/c holders or the OD on NOSTRO a/c.)
S1408Remittance of profit by FDI enterprises in India (by branches of foreign companies including bank branches)
S1409Remittance of dividends by FDI enterprises in India (other than branches) on equity and investment fund shares
S1410Payment of interest by FDI enterprises in India to their Parent company abroad.
S1411Remittance of interest income on account of Portfolio Investment in India
S1412Remittance of dividends on account of Portfolio Investment in India on equity and investment fund shares
15OthersS1501Refunds / rebates / reduction in invoice value on account of
S1502Reversal of wrong entries, refunds of amount remitted for non-exports
S1503Payments by residents for international bidding
S1504Notional sales when export bills negotiated/ purchased/ discounted are dishonored/ crystallised/ cancelled and reversed from suspense account
S1505Deemed Imports (exports between SEZ, EPZs and Domestic tariff areas)
16Maintenance and repair services n.i.eS1601Payments on account of maintenance and repair services rendered for Vessels, ships, boats, warships, etc.
S1602Payments on account of maintenance and repair services rendered for aircrafts, space shuttles, rockets, military aircrafts,
17Manufacturing services (goods for processing)S1701Payments for processing of goods
Direct Taxes Ready ReckonerService Tax Ready ReckonerCompany Law Ready Reckonertax deduction at source
New Books Released on Tax , GST and law

Leave a Reply

Your email address will not be published. Required fields are marked *