Current · Source: Reserve Bank of India · RBI/2023-24/130 · issued 05 Mar 2024 · ~1 min read
Quick answerFrom March 2024 quarter, Indian Agents under MTSS must submit quarterly remittance statements on RBI's new CIMS portal (return code R130) instead of the old XBRL platform. NIL reports are mandatory for quarters with no remittances.
The rule, in the simplest words
Submit quarterly MTSS remittance statements on RBI's CIMS portal (return code R130) instead of the old XBRL platform.
Register and update access on the CIMS portal for return code R130 before the deadline.
Submit NIL reports within 15 days of quarter-end, even if no remittances were received.
How it plays out — a real example
Rohan, a forex & trade-finance officer in Indore, ensures that all quarterly MTSS remittance statements are submitted on the CIMS portal within 15 days of the quarter-end. He also verifies that all internal reporting processes are updated to reflect the change from XBRL to CIMS, avoiding any compliance gaps.
What changed
RBI has shifted the quarterly MTSS remittance reporting from the XBRL platform to the new Centralised Information Management System (CIMS) portal. The change takes effect from the quarter ending March 2024, with the statement assigned return code 'R130' on CIMS.
What it means for you
Authorised Persons acting as Indian Agents under MTSS must now register and file their quarterly statements on the CIMS portal (sankalan.rbi.org.in) instead of the earlier XBRL system. This aligns with RBI's broader data warehouse upgrade and may require system updates or new user credentials. Even if no remittances were received, a NIL report must be submitted within 15 days of quarter-end.
What you must do
Register or update access on the CIMS portal (https://sankalan.rbi.org.in) for return code R130 before the March 2024 quarter deadline.
Submit the quarterly MTSS remittance statement on CIMS within 15 days of quarter-end, including NIL reports for quarters with no remittances.
Review internal reporting processes to ensure timely migration from XBRL to CIMS and avoid compliance gaps.
Who it affects
All Authorised Persons who are Indian Agents under the Money Transfer Service Scheme (MTSS), Banks and financial institutions handling inward remittances under MTSS
❓ Common questions
What is the new return code for MTSS reporting on CIMS?
The statement has been assigned return code 'R130' on the CIMS portal.
Do I need to submit a report if no remittances were received in a quarter?
Yes, a 'NIL' report must be submitted on CIMS for quarters with no remittances.
When does this change take effect?
The new reporting requirement on CIMS applies from the quarter ending March 2024.
📜 Read the original circular — full text as issued by RBI
RBI/2023-24/130
A.P. (DIR Series) Circular No.15
March 05, 2024
To
All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme
Madam / Sir,
Money Transfer Service Scheme - Submission of Statement on CIMS
Please refer to the A.P. (DIR Series) Circular No.70 dated May 19, 2016 , wherein all Authorised Persons who are Indian Agents under the Money Transfer Service Scheme (MTSS) were required to submit a quarterly statement (within 15 days from the close of the quarter to which it relates) on the quantum of remittances received through MTSS using the eXtensible Business Reporting Language (XBRL) platform.
2. With the launch of the Reserve Bank’s next generation data warehouse viz., the Centralised Information Management System (CIMS), it has been decided that the reporting of the aforesaid statement will be done on CIMS portal (URL: https://sankalan.rbi.org.in/ ) with effect from the quarter-ending March 2024. The statement has been assigned return code - ‘R130’ on CIMS. In case no remittance was received during a quarter, a ‘NIL’ report shall be submitted.
3. The Master Direction on ‘Reporting under Foreign Exchange Management Act, 1999’ is being updated to reflect the changes.
4. The directions contained in this circular have been issued under section 10(4), 11(1), and 11(2) 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,
(Puneet Pancholy)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2023-24/130 · issued 05 Mar 2024. The plain-English explanation above is BankPulse’s own independent summary.
Register or update access on the CIMS portal (https://sankalan.rbi.org.in) for return code R130 before the March 2024 quarter deadline.
📜 Compliance
Submit the quarterly MTSS remittance statement on CIMS within 15 days of quarter-end, including NIL reports for quarters with no remittances.
Review internal reporting processes to ensure timely migration from XBRL to CIMS and avoid compliance gaps.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are an IT/Systems lead at a bank this circular applies to (All Authorised Persons who are Indian Agents under the Money Transfer Service Scheme (MTSS), Banks and financial institutions handling inward remittances under MTSS), your first concrete step on “MTSS Reporting Moves to CIMS Portal from Q1 2024” is: “Register or update access on the CIMS portal (https://sankalan.rbi.org.in) for return code R130 before the March 2024 quarter deadline.” (RBI issued this 05 Mar 2024).
Circular: RBI/2023-24/130 -- MTSS Reporting Moves to CIMS Portal from Q1 2024
Issued: 05 Mar 2024
Action required: Register or update access on the CIMS portal (https://sankalan.rbi.org.in) for return code R130 before the March 2024 quarter deadline.
Action required: Submit the quarterly MTSS remittance statement on CIMS within 15 days of quarter-end, including NIL reports for quarters with no remittances.
Action required: Review internal reporting processes to ensure timely migration from XBRL to CIMS and avoid compliance gaps.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
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.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
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=12618&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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