No longer current — withdrawn, no replacement on file yet
RBI's own words: “instructions issued vide circulars A.P. (DIR Series) Circular No. 106 dated May 23, 2013” — RBI/2024-25/74
Source: Reserve Bank of India · RBI/2012-13/504 · issued 23 May 2013 · ~2 min read
Quick answerRBI has discontinued hard copy submission of monthly LRS statements. From July 1, 2013, AD Category-I banks must upload LRS data (including nil returns) only via ORFS by the 5th of the following month.
The rule, in the simplest words
Starting July 1, 2013, banks must send LRS (a scheme that lets people send money abroad) reports only online, not on paper.
Banks must upload the report for June 2013 by the 5th of July 2013 using ORFS (a special RBI website for reports).
If a bank has no LRS transactions in a month, they still have to upload a 'nil' report (a report saying zero) by the 5th of the next month.
Banks need to make sure their ORFS login works and train staff to use it, or they might miss the deadline.
How it plays out — a real example
A forex & trade-finance officer in Indore, Priya, used to print and mail LRS reports to RBI every month. Now, starting July 1, 2013, she logs into the ORFS website, uploads the June data by July 5, and even submits a 'nil' report for months with no transactions, saving time and paper.
What changed
Earlier, AD banks had to submit monthly LRS data in both hard copy and soft copy (Excel) and later also through ORFS. Now, RBI has decided to collect data only in soft form, dispensing with hard copy submission entirely. Effective July 1, 2013, banks must upload June 2013 LRS data solely via ORFS by the 5th of the next month.
What it means for you
This move eliminates the administrative burden of preparing and sending physical statements to RBI, reducing paperwork and manual effort. Banks must ensure their ORFS access is functional and that staff are trained to upload data, including nil returns, within the deadline. Non-compliance could lead to reporting gaps, so internal processes need to be updated accordingly.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Update your internal LRS reporting SOPs to remove hard copy submission steps effective July 1, 2013.
Ensure ORFS credentials are active and test the upload process before the June 2013 data deadline.
Train relevant staff on uploading nil returns when no LRS transactions occur in a month.
Set up a calendar reminder to upload LRS data by the 5th of each month without fail.
Who it affects
AD Category-I banks handling LRS transactions, Compliance and reporting teams at banks, RBI's Foreign Exchange Department
RBI’s words: “instructions issued vide circulars A.P. (DIR Series) Circular No. 106 dated May 23, 2013”
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/504
A. P. (DIR Series) Circular No. 106
May 23, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Liberalised Remittance Scheme for Resident Individuals – Reporting
Attention of all Authorised Dealer Category - I (AD Category - I) banks is invited to A. P. (DIR Series) Circular No.36 dated April 04, 2008 , in terms of which, AD Category -I banks were required to furnish information on the number of applications received and the total amount remitted under the Liberalised Remittance Scheme (the Scheme), on a monthly basis, in the prescribed format in both hard copy as well as soft copy in Excel format. All AD banks were also advised to submit the monthly statement before 5th of the succeeding month to the Reserve Bank of India.
2. Since October 2008, AD Banks were required to submit the LRS data through the Online Returns Filing System (ORFS) of Reserve Bank, in addition to submitting the same in hard copy.
3. It has now been decided, to collect the data in soft form only and to dispense with the submission of hard copies of the monthly statements by the AD banks. Accordingly, with effect from July 01, 2013, AD Category – I banks are required to upload the data (LRS data of June 2013) in ORFS on or before fifth of the following month. Where there is no data to furnish, AD banks are advised to upload ‘nil’ figures in the ORFS system.
4. AD banks can upload the LRS data by accessing ORFS through the URL https://secweb.rbi.org.in/ORFSMainWeb as hitherto.
5. In case any clarifications are required, AD banks may send their queries through e-mail or contact by phone at 22601000 extn:2676 or 22701232 (direct)
6. 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,
(Rudra Narayan Kar)
Chief General Manager-in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/504 · issued 23 May 2013. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7992&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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