What changed
FIU-IND has set October 20, 2012 as the go-live date for the FINnet Gateway, replacing the earlier test mode period. After this date, banks must stop submitting reports in CD format and use only the new XML reporting format on the FINnet Gateway. Any CD reports received post-October 20 will not be considered valid by FIU-IND.
What it means for you
UCBs must fully transition to the FINnet Gateway for all report submissions, ending the use of physical CDs. This shift to XML-based reporting aims to streamline data collection and improve accuracy. Banks need to ensure their systems and staff are ready for the new format to avoid non-compliance penalties.
What you must do
- Ensure all reports are submitted via FINnet Gateway in XML format from October 20, 2012 onwards.
- Stop using CD format for report submissions after the go-live date.
- Contact FIU-IND help desk at 011-24109792/93 or via email for any clarifications.
- Have the Compliance Officer/Principal Officer acknowledge receipt of this circular to the concerned Regional Office.
Who it affects
All Primary (Urban) Co-operative Banks (UCBs), Compliance Officers and Principal Officers of UCBs, FIU-IND reporting teams at UCBs
What is the deadline for switching to FINnet Gateway?
The go-live date is October 20, 2012. After this date, all reports must be submitted only via the FINnet Gateway in XML format.
What happens if we submit a report in CD format after October 20?
Any report in CD format received after October 20, 2012 will not be treated as a valid submission by FIU-IND.
Who should we contact for help with the new reporting system?
For clarifications or assistance, contact the FIU-IND help desk by email or at telephone numbers 011-24109792/93.