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Cross Border Wire Transfer Reporting via FINnet Gateway

Current · Source: Reserve Bank of India · RBI/2013-14/572 · issued 25 Apr 2014 · ~1 min read
Quick answerRRBs and cooperative banks must report cross-border wire transfers over Rs. 5 lakh to FIU-IND by the 15th of each month using the FINnet gateway and existing TRF format.
The rule, in the simplest words
How it plays out — a real example

A co-operative bank branch officer in Indore at a cooperative bank processes a cross-border wire transfer of Rs. 6 lakh from a customer to a relative in Dubai. She remembers the new rule, so she uses the same TRF form she already uses for cash reports, and submits it through the FINnet gateway by the 15th of the next month, making sure her bank stays compliant.

What changed

RBI extended cross-border wire transfer reporting requirements to RRBs and StCBs/CCBs under amended PML Rules. Banks must now submit these reports via the FINnet gateway using the existing Transaction Reporting Format (TRF) by the 15th of the succeeding month.

What it means for you

Banks must integrate cross-border wire transfer data into their existing FIU-IND reporting workflow. This adds a new reporting obligation without a separate format, leveraging the TRF already used for CTRs, STRs, and NTRs. Timely compliance is critical to avoid regulatory scrutiny.

What you must do

Who it affects

Regional Rural Banks (RRBs), State/Central Cooperative Banks (StCBs/CCBs), Compliance Officers / Principal Officers of these banks

❓ Common questions

What is the threshold for reporting cross-border wire transfers?

All cross-border wire transfers of more than Rs. 5 lakh or equivalent in foreign currency, where either the origin or destination is in India, must be reported.

Which format should be used for reporting these transactions?

The existing Transaction Reporting Format (TRF) already used for Cash Transaction Reports (CTRs), Suspicious Transaction Reports (STRs), and Non-Profit Organization Transaction Reports (NTRs) should be used.

What is the deadline for submitting these reports?

Reports must be furnished to the Director, FIU-IND by the 15th of the month following the transaction.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/572 RPCD.RRB.RCB.AML.BC.No.97/07.51.018/2013-14 April 25, 2014 The Chairmen/CEOs All Regional Rural Banks (RRBs) and State/Central Cooperative Banks (StCBs/CCBs) Madam/Dear Sir, Reporting of Cross Border Wire Transfer Report on FINnet Gateway Please refer to our circular RPCD.CO.RRB.RCB.AML.BC.No.36/03.05.33(E)/2012-13 dated October 15, 2012 on ‘Uploading of Reports on FINnet Gateway’ wherein Regional Rural Banks (RRBs) and State/Central Cooperative Banks (StCBs/CCBs) and financial institutions were advised to upload reports as required by FIU-IND using only FINnet gateway. 2. With the amendments to Prevention of Money Laundering (PML) Rules, notified by the Government of India vide Notification No. 12 of 2013 dated August 27, 2013 and in terms of amended Rule 3, every reporting entity is required to maintain the record of all transactions including the record of all cross border wire transfers of more than Rs. 5 lakh or its equivalent in foreign currency, where either the origin or destination of the fund is in India. FIU-IND has advised that the information of all such transactions may be furnished to Director, FIU-IND by 15th of the succeeding month. 3. In this regard, it is advised that the ‘Transaction Based Reporting Format’ (TRF) already developed by FIU-IND and being used for reporting Cash Transaction Reports (CTRs), Suspicious Transaction Reports (STRs) and Non-Profit Organizations Transaction Reports (NTRs) may be used for reporting the Cross Border Wire Transfers. The information may be furnished electronically in the FINnet module developed by FIU-IND. All RRBs and StCBs/CCBs are accordingly advised to take action as required by FIU-IND and ensure that reports are submitted in time as per the schedule. 4. The format along with sample data filled in as an illustration is available in the ‘Downloads’ section of the FIU-IND website ( http://fiuindia.gov.in ). 5. The Compliance Officer / Principal Officer may acknowledge receipt of this circular to our Regional Office concerned. Yours faithfully, (A. Udgata) Principal Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/572 · issued 25 Apr 2014. 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 (Regional Rural Banks (RRBs), State/Central Cooperative Banks (StCBs/CCBs), Compliance Officers / Principal Officers of these banks), your first concrete step on “Cross Border Wire Transfer Reporting via FINnet Gateway” is: “Identify all cross-border wire transfers exceeding Rs. 5 lakh where origin or destination is India.” (RBI issued this 25 Apr 2014).

  1. Circular: RBI/2013-14/572 -- Cross Border Wire Transfer Reporting via FINnet Gateway
  2. Issued: 25 Apr 2014
  3. Action required: Identify all cross-border wire transfers exceeding Rs. 5 lakh where origin or destination is India.
  4. Action required: Use the existing Transaction Reporting Format (TRF) from FIU-IND's website to report these transactions.
  5. Action required: Submit reports electronically via the FINnet gateway by the 15th of the month following the transaction.
  6. Action required: Acknowledge receipt of this circular to your respective RBI Regional Office.
  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=8850&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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