RBI/2017-18/41
A .P. (DIR Series) Circular No. 3

August 10, 2017

To

All Authorised Dealer Category - I Banks

Madam / Sir,

Risk Management and Interbank Dealings- Reports to the Reserve Bank

Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA. 25/RB-2000 dated May 3, 2000) and Master Directions on Risk Management and Inter-Bank Dealings dated July 5, 2016 as amended from time to time.

2. In terms of para (viii) under Part-E (Reports to the Reserve Bank) of the aforementioned master direction, the Head/Principal Office of AD Category-I banks are required to submit a statement in form BAL giving details of their holdings of all foreign currencies on fortnightly basis through Online Returns Filing System (ORFS) within seven calendar days from the close of the reporting period to which it relates. It has now been decided that w.e.f. August 16, 2017 (i.e. for the statement of first fortnight of August 2017) this statement may be submitted through the web portal at https://bop.rbi.org.in as per the format given in Annexure I.

3. In terms of para (ii) under Part-E of the aforementioned master direction, Head/Principal Office of AD Cat-I banks are required to submit a monthly statement of Nostro/Vostro account balances. It has now been decided to discontinue this report.

4. 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 is without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(T Rabi Sankar)
Chief General Manager