Pursuant to the Reserve Bank of India circular dated 12 February 2015, the Advance Remittance Form (submitted by Indian companies to report the inflow of Foreign Direct Investment) and the FCGPR Form (submitted by Indian companies to report the issue of eligible instruments to overseas investors against the inflow of Foreign Direct Investment) must be downloaded from the newly set up "e-Biz" portal of the Government of India, filled in and uploaded. Authorized Dealer banks will check the forms and then transfer them to the Reserve Bank.
This has been done with a view to increasing the ease of reporting Foreign Direct Investment transactions. However, at present, online reporting on the e-Biz platform is an additional requirement and the manual system of reporting will also need to be undertaken by Indian companies until further notice.
Originally published in March 2015 Newsletter.
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