Home › Circulars › RBI/2012-13/128

Non-Resident Deposit Reporting: Hard Copy No Longer Needed for Most Banks

Current · Source: Reserve Bank of India · RBI/2012-13/128 · issued 12 Jul 2012 · ~2 min read
Quick answerRBI has discontinued the requirement for most banks to send hard copies of Stat 5 and Stat 8 returns on non-resident deposits. Only soft copies via email to DSIM are now needed. Co-operative banks and RRBs must continue both hard and soft copies to their regional RBI office.
The rule, in the simplest words
How it plays out — a real example

Rohit, a senior non‑resident deposit officer at a commercial bank in Indore, reviews the day's NRD data, prepares the Stat 5 and Stat 8 Excel sheets, and warmly emails them to DSIM, knowing he no longer has to print and post the paper version.

What changed

Earlier, banks had to submit both hard and soft copies of Stat 5 and Stat 8 returns on non-resident deposits to DSIM. Now, banks dealing in foreign exchange (excluding RRBs and co-operative banks) can stop sending hard copies and only email soft copies. Co-operative banks and RRBs must still send both hard and soft copies to their regional RBI office.

What it means for you

This reduces paperwork and administrative burden for most banks, streamlining the reporting process. Banks must ensure their soft copy submissions are accurate and timely, as hard copies are no longer accepted for them. Co-operative banks and RRBs face no change and must continue dual submission.

What you must do

Who it affects

All authorised dealers in foreign exchange (banks), Banks maintaining Non-Resident Deposit accounts, Co-operative banks, Regional Rural Banks

❓ Common questions

Which banks are exempt from sending hard copies?

All banks dealing in foreign exchange, except Regional Rural Banks and Co-operative banks, can stop sending hard copies of Stat 5 and Stat 8 returns.

What should co-operative banks and RRBs do?

They must continue submitting both hard and soft copies of Stat 5 and Stat 8 returns to the Regional Offices of the Foreign Exchange Department, RBI.

What is the format for soft copy submission?

Soft copies must be in Microsoft Excel format as per the prescribed format, sent via email to DSIM, Central Office.

📜 Read the original circular — full text as issued by RBI
RBI/2012-13/128 A. P. (DIR Series) Circular No. 4 July 12, 2012 To, All Authorised Dealers in Foreign Exchange Madam / Sir, Non Resident Deposits- Comprehensive Single Return Attention of banks maintaining Non-Resident Deposit (NRD) Accounts is invited to A. P. (DIR Series) Circular No. 55 dated May 09, 2007 , in terms of which the data on Non-Resident Deposits are required to be submitted in soft copy in the form of Stat 5 and Stat 8 Returns in Microsoft Excel format, both through email and a hard copy to the Director, Reserve Bank of India, Department of Statistics and Information Management (DSIM), Central Office, Balance of Payments Statistics Division, C-9/8, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051. 2. As the above system of reporting of Stat 5 and Stat 8 returns in soft copy has stabilized, it has now been decided that the banks, dealing in foreign exchange (excluding RRBs and Co-Operative banks) can stop sending hard copies to DSIM, Central Office. The soft copies as per the prescribed format should only be sent to DSIM, Central Office, henceforth. 3. Co-operative Banks and Regional Rural Banks may, however, continue submission of both hard and soft copies of Stat 5 and Stat 8 Returns, to the Regional Offices of the Foreign Exchange Department, Reserve Bank of India. 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 are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, Rashmi Fauzdar Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/128 · issued 12 Jul 2012. The plain-English explanation above is BankPulse’s own independent summary.
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Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All authorised dealers in foreign exchange (banks), Banks maintaining Non-Resident Deposit accounts, Co-operative banks, Regional Rural Banks), your first concrete step on “Non-Resident Deposit Reporting: Hard Copy No Longer Needed for Most Banks” is: “Stop sending hard copies of Stat 5 and Stat 8 returns to DSIM if your bank is not an RRB or co-operative bank.” (RBI issued this 12 Jul 2012).

  1. Circular: RBI/2012-13/128 -- Non-Resident Deposit Reporting: Hard Copy No Longer Needed for Most Banks
  2. Issued: 12 Jul 2012
  3. Action required: Stop sending hard copies of Stat 5 and Stat 8 returns to DSIM if your bank is not an RRB or co-operative bank.
  4. Action required: Continue sending only soft copies in Microsoft Excel format via email to DSIM as per the prescribed format.
  5. Action required: If you are a co-operative bank or RRB, continue submitting both hard and soft copies to your regional RBI office.
  6. Action required: Update your internal reporting procedures to reflect the new submission method.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7445&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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