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RBI Discontinues Half-Yearly ORA Reporting for Overseas Offices

Current · Source: Reserve Bank of India · RBI/2013-14/285 · issued 20 Sep 2013 · ~1 min read
Quick answerRBI has scrapped the half-yearly Form ORA submission to its Regional Offices for AD banks. Banks must still maintain internal records of approvals for overseas trading/non-trading offices, branches, or representative offices.
The rule, in the simplest words
How it plays out — a real example

Priya, an authorised dealer officer in the foreign‑exchange department of State Bank of India in Delhi, checks the approval list each morning. Since RBI no longer asks for the half‑yearly Form ORA, she simply updates the internal spreadsheet and files the documents, ready to show any inspector who comes by.

What changed

Earlier, AD banks had to submit Form ORA to RBI Regional Offices on a half-yearly basis. Now, RBI has discontinued this forwarding requirement entirely, effective from September 20, 2013.

What it means for you

This reduces compliance burden for AD banks by eliminating a recurring reporting obligation. However, banks must continue to keep detailed internal records of all approvals granted for opening overseas offices, ensuring audit readiness.

What you must do

Who it affects

All Category-I Authorised Dealer Banks

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Do we still need to file Form ORA with RBI?

No, the requirement to forward Form ORA to RBI Regional Offices has been discontinued. You only need to keep the particulars at your end.

What records must we maintain internally?

You must maintain details of approvals granted for opening Trading Office, Non-Trading Office, Branch Office, or Representative Office abroad.

Does this circular affect any other permissions under other laws?

No, this circular is issued under FEMA sections 10(4) and 11(1) and does not affect permissions or approvals required under any other law.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/285 A.P. (DIR Series) Circular No. 50 September 20, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Opening of Trading Office / Non-Trading Office / Branch Office/ Representative Office abroad Attention of Authorized Dealers (AD) is invited to A. P. (DIR Series) Circular No. 39 dated April 20, 2002 in terms of which statement in Form ORA was to be submitted to the Regional Offices of Reserve Bank on half yearly basis instead of on a monthly basis by the Authorized Dealers. 2. On a review, it has been decided to discontinue the practice of forwarding the statement in Form ORA to the respective Regional Office of Reserve Bank by the Authorized Dealers. Authorized Dealers may, however, continue to maintain the particulars of approvals granted for opening of Trading Office / Non-Trading Office / Branch Office/ Representative Office at their end. 3. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully,  (C. D. Srinivasan) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/285 · issued 20 Sep 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
🏦 Branch Manager
  • Maintain internal records of all approvals for overseas trading/non-trading offices, branches, or representative offices.
📜 Compliance
  • Stop submitting Form ORA to RBI Regional Offices immediately.
  • Ensure these records are complete and accessible for any future regulatory inspection or audit.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All Category-I Authorised Dealer Banks), your first concrete step on “RBI Discontinues Half-Yearly ORA Reporting for Overseas Offices” is: “Stop submitting Form ORA to RBI Regional Offices immediately.” (RBI issued this 20 Sep 2013).

  1. Circular: RBI/2013-14/285 -- RBI Discontinues Half-Yearly ORA Reporting for Overseas Offices
  2. Issued: 20 Sep 2013
  3. Action required: Stop submitting Form ORA to RBI Regional Offices immediately.
  4. Action required: Maintain internal records of all approvals for overseas trading/non-trading offices, branches, or representative offices.
  5. Action required: Ensure these records are complete and accessible for any future regulatory inspection or audit.
  6. Owner: ____________ Target date: ____________
  7. Board/committee approval needed? Y / N
  8. 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=8450&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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