Reserve Bank of India, with a view to promote the ease of reporting of transactions under foreign direct investment under the aegis of the e-Biz project of the Government of India has enabled the filing of Advance Remittance Form (ARF) to report the foreign direct investment (FDI) inflow to RBI; and FCGPR Form for reporting the issue of eligible instruments to the overseas investor against the above mentioned FDI inflow.
Companies will be able to use this facility starting from 19th February, 2015. They will be required to download the forms and fill it and submit it with digital signature of signatory.
AD is require to verify these forms by downloading at their end and need to raise the queries and further information, if any from the Company. AD will then upload the same to RBI for allotment of Unique Identification Number (UIN).
Detail circular and user manual in this regard is available on RBI portal at following link
http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=9566&Mode=0
With introduction of this facility is expected now that FDI reporting will be easy for companies and professionals. Simultaneously AD’s are also require to have a reasonable approach towards raising queries on ARF & FC GPR.
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