What changed
FIU-IND confirmed October 20, 2012 as the go-live date for the FINnet Gateway, replacing CD-based report submission. After this date, only XML format reports uploaded via FINnet will be accepted; CD submissions will be considered invalid.
What it means for you
Banks and authorised persons must stop submitting reports on CDs and shift entirely to the FINnet Gateway using the new XML format. Non-compliance will result in submissions being rejected by FIU-IND, potentially leading to regulatory issues. This aligns with earlier test-mode guidance from October 2012.
What you must do
- Ensure all report submissions from October 20, 2012 onwards are uploaded via FINnet Gateway in XML format.
- Discontinue any CD-based reporting immediately after the go-live date.
- Contact FIU-IND help desk at 011-24109792/93 for any technical or procedural clarifications.
- Verify that your systems are configured for timely XML report generation and upload.
Who it affects
All authorised persons (banks, financial institutions, intermediaries) under FEMA, Entities required to submit reports to FIU-IND under PMLA
What happens if we submit a report in CD format after October 20, 2012?
FIU-IND will not treat such submissions as valid. Only reports uploaded via FINnet Gateway in XML format will be accepted.
Who should we contact for help with the FINnet Gateway?
You can reach the FIU-IND help desk via email or telephone at 011-24109792/93 for any clarification or assistance.