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RBI Moves Rupee Drawing Arrangement Reporting to CIMS Portal

Current · Source: Reserve Bank of India · RBI/2023-24/95 · issued 22 Dec 2023 · ~1 min read
Quick answerFrom December 26, 2023, AD Category-I banks must submit quarterly statement E on total remittances via the CIMS portal (return code R129) instead of the XBRL site. The change applies from the quarter ending December 2023.
The rule, in the simplest words
How it plays out — a real example

A forex & trade-finance officer in Indore, Priya, is preparing her bank's quarterly report on total remittances (money sent abroad) for the quarter ending December 2023. She remembers the RBI circular and logs into the CIMS portal at https://sankalan.rbi.org.in, enters the return code R129, and uploads the statement. She also checks that her team knows to submit a 'NIL' report on CIMS if any future quarter has no data, so the bank stays compliant and avoids penalties.

What changed

RBI has discontinued submission of the quarterly statement E on total remittances through the XBRL site effective December 26, 2023. The reporting has shifted to the Centralized Information Management System (CIMS) portal, where the return is now assigned code R129. Banks already onboarded on CIMS must now use it exclusively for this filing.

What it means for you

AD Category-I banks must transition their quarterly remittance reporting to the CIMS portal, ensuring compliance from the December 2023 quarter. This move centralizes data submission into RBI's new data warehouse, likely improving data consistency and monitoring. Banks should verify their CIMS access and update internal processes to avoid delays or penalties.

What you must do

Who it affects

Authorised Dealer Category – I banks, Compliance and reporting teams handling FEMA returns, Treasury and forex operations departments

❓ Common questions

Regulatory timeline

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

What is the return code for the statement on CIMS?

The statement has been assigned return code 'R129' on the CIMS portal.

What if my bank has no remittance data to report for a quarter?

You must upload a 'NIL' report on the CIMS portal for that quarter.

From which quarter does the new CIMS submission apply?

The requirement applies from the quarter ending December 2023 onwards.

📜 Read the original circular — full text as issued by RBI
RBI/2023-24/95 A.P. (DIR Series) Circular No.09 December 22, 2023 To All Authorised Dealer Category - I Banks Madam / Sir, Rupee Drawing Arrangement - Submission of statement/return on CIMS Portal Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No.71 dated May 19, 2016 , in terms of which AD Category – I banks were required to submit statement E on total remittances received every quarter. 2. It has now been decided that with effect from December 26, 2023, submission of the above-mentioned statement through the XBRL site will be discontinued and shifted to the Centralized Information Management System (CIMS), which is Bank’s new data warehouse. AD Category – I banks have already been onboarded on CIMS portal and are currently submitting the return on XBRL site as well as CIMS portal. The statement has been assigned return code - ‘R129’ on CIMS portal. 3. Accordingly, all AD Category – I banks shall upload the above-mentioned statement on CIMS portal (URL: https://sankalan.rbi.org.in ) from the quarter ending December 2023. In case no data is to be furnished, AD Category – I banks shall upload a ‘NIL’ report. 4. FED Master Direction No. 18/2015-16 dated January 1, 2016 is being updated to reflect the changes. 5. 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, (Puneet Pancholy) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2023-24/95 · issued 22 Dec 2023. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
💻 IT / Systems
  • Upload quarterly statement E on total remittances on the CIMS portal (https://sankalan.rbi.org.in) using return code R129 from the quarter ending December 2023.
  • Ensure your bank's CIMS portal access is active and staff are trained on the new submission process.
📜 Compliance
  • Submit a 'NIL' report on CIMS if no data is to be furnished for any quarter.
  • Update internal compliance manuals to reflect the shift from XBRL to CIMS for this return.
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 (Authorised Dealer Category – I banks, Compliance and reporting teams handling FEMA returns, Treasury and forex operations departments), your first concrete step on “RBI Moves Rupee Drawing Arrangement Reporting to CIMS Portal” is: “Upload quarterly statement E on total remittances on the CIMS portal (https://sankalan.rbi.org.in) using return code R129 from the quarter ending December 2023.” (RBI issued this 22 Dec 2023).

  1. Circular: RBI/2023-24/95 -- RBI Moves Rupee Drawing Arrangement Reporting to CIMS Portal
  2. Issued: 22 Dec 2023
  3. Action required: Upload quarterly statement E on total remittances on the CIMS portal (https://sankalan.rbi.org.in) using return code R129 from the quarter ending December 2023.
  4. Action required: Submit a 'NIL' report on CIMS if no data is to be furnished for any quarter.
  5. Action required: Ensure your bank's CIMS portal access is active and staff are trained on the new submission process.
  6. Action required: Update internal compliance manuals to reflect the shift from XBRL to CIMS for this return.
  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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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=12577&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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