Modification of Returns / Reporting requirements under FEMA, 1999
UR
- Applies toBanks that handle foreign money
- StatusIn force
- IssuedJun 24, 2026
- Amendmentsnone tracked
- Length11 points in 4 sections · 2 min read
The four dates on this rule
- PublishedJun 24, 2026The day RBI put this document out. This is the same day as the Issued date on this rule.
- Starts to applyNot statedNot stated separately in this document. Read the rule itself before you assume a start date.
- Time to get readyNot statedCannot be worked out until the day it starts to apply is known.
- Last date to actNot statedNo date to act by was found in this document. Other dates may sit inside single paragraphs.
This rulebook is short, and the page is short with it. This document is 988 words long. It states 11 separate rules. So the page carries 11 points, not the thirty a long rulebook carries. Nothing has been left out to make it shorter.
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10 of the 11 points name no product and bind every product. All products.
What it says
How firm is each point
Stated by RBI — RBI’s own paragraph says this. We have only made it plainer.
Our reading — BankPulse read RBI’s paragraph and shortened it. The paragraph is the authority, not this line.
Needs judgement — RBI leaves this to the bank to settle, so nobody can give you a fixed number here.
Must know
1. no FLM-8 for Nostro users
If you use Nostro accounts and report through FETERS, you must not file FLM-8 returns.
2. franchisee list filing
Authorised Persons must file a list of franchisee tie-ups within 15 days after every calendar quarter.
3. MTSS sub-agent list
Indian Agents under MTSS must file their Sub-Agent list every quarter within 15 days after quarter end.
Do it
1. FFMCs records duty
Full fledged money changers must keep full and correct records of every foreign exchange deal they do.
2. collateral adequacy still needed
Indian Agents must still keep enough collateral as per the current rules.
Background
1. revised FLM-8 use
Use the new FLM-8 format, which now includes write-off details of foreign currency notes.
2. no RBI nod for write-off
You do not need Reserve Bank approval to write off foreign currency notes above USD 2000.
3. old FLM registers ended
Banks no longer need to use the earlier FLM-1 to FLM-7 register formats under Reporting under FEMA.
4. foreign currency account return
The quarterly return on foreign currency accounts from export cash and traveller cheques is no longer required.
5. extra MTSS locations list
Indian Agents need not send a separate list of extra locations under the money transfer scheme now.
6. MTSS collateral return ended
The return on collateral for the money transfer scheme has been stopped.