Non - Resident Deposits-Comprehensive Single Return (NRD-CSR) - Revised Version 2.1@ - FEMA - 008

Non - Resident Deposits-Comprehensive Single Return (NRD-CSR) - Revised Version 2.1@ RBI/2004/141 A.P. (DIR Series ) Circular No.8 August 26, 2004 To All Authorised Dealers in Foreign Exchange Madam/Sirs, Non - Resident Deposits-Comprehensive Single Return (NRD-CSR) - Revised Version 2.1@ Attention of Authorised Dealers (ADs) is invited to our A.P.(DIR Series) Circular No. 99 dated April 30, 2003 introducing NRD-CSR package for submission of data on Non-Resident Deposits in CSR format, on monthly basis, through electronic media (floppy/e-mail) to Department of Statistical Analysis and Computer Services directly, from the month of April 2003 onwards. 2. The existing NRD-CSR version 1.6 has been revised and a new NRD-CSR version 2.1@ for the reporting system has been placed on the RBI website (under FEMA Electronic Reporting System NRD-CSR) to facilitate downloading by ADs maintaining non-resident deposits. The details of the revision in the NRD-CSR version 2.1@ and the revised format for electronic reporting are given in Annex I Annex II. ADs should furnish the data in the revised NRD-CSR version 2.1@ from the month of August 2004 onwards. 3. The directions contained in this circular have been issued under Section 10 (4) and Section 11 (1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager @ Please note that Version 2.1 has since been replaced by Version 2.1(R). Annex-I [A.P.(DIR Series) Circular No.8 dated August 26, 2004 ] A: Details of the Revision in the NRD-CSR version 2.1: The reporting system 'Non-Resident Deposit ¡V Comprehensive Single Return' (NRD-CSR) has been revised from May 2004. Accordingly, the following changes are there in the revised reporting system. 1. Capturing high value transactions: Aggregate inflows and outflows as well as transactions with amount more than a cut-off limit during the month of reporting for all schemes are captured separately. Thus, a few new record type codes have to be added to indicate high value flows out of total flows. Limits of high value transactions are Indian Rupees 10,00,000; United States Dollar 23,000; Euro 20,000; Grate Britain Pound 12,500 and Japanese Yen 25,00,000 2. New Data items: Two new data items are added as follows. a. A new data item is added for Number of account for which transactions/balances are aggregated. b. A new data item for Account type, i.e., Fixed deposit, Recurring deposit, Current A/C and Savings A/C is added under the revised NRD-CSR reporting system. 3. Changes in the existing data item: Following two changes are there in the existing data items. a. Students as a special investor category is added in addition to Individual and OCB. b. Interest rate is to be reported in terms of basis points instead of actual rate to minimise rounding off errors. 4. All other data items are to be reported as per earlier reporting system. The new reporting requirement is furnished in Annex-II. B: Facilities in the NRD-CSR version 2.1 1. Banks, including branches / regional offices, using or intending to use NRD-CSR need to install the new version 2.1 to ensure the reporting of NRD-CSR data under revised reporting system. 2. Uses of NRD-CSR package are unchanged. Thus, user will not find any difference while working in the new version 2.1. 3. All formats for loading data at branch portion i.e. data on Account details and flows, for loading into the NRD-CSR branch, are unchanged. Thus, the interface developed by bank branches for downloading data from their own computer for loading into the NRD-CSR (branch database), are not required to be changed. 4. There is a facility to change the cut-off limit for high value transactions, strictly with a RBI key only. 5. There is a change of format from forwarding data from branch to Nodal/Head Office to ensure revision in reporting system. However, NRD-CSR version 2.1 will take care of that through its new aggregation and reporting module. 6. Nodal Office and Head offices will be able to load data received from their branches in the old format also, with a warning message. 7. Monthly data of Head/Nodal office has to be transferred to a backup file to ensure its working performance for big banks having large number of branches. 8. There is a new menu under Monitoring system of Nodal / Head Offices to facilitate generating list of defaulting branches with their addresses and details in the receipt of data. Annex-II [A.P.(DIR Series) Circular No.8 dated August 26, 2004 ] Non-Resident Deposits - Comprehensive Single Return:Revised format for electronic Reporting Data should be reported in a standard text (ASCII) file with the following format: Format for reporting data by bank head offices to RBI in floppy Periodicity: Monthly No Column Description Type Position Remarks Bank Code 7 N 1 to 7 Bank Working and rest are zero. Reporting period [of Stock flows] (YYYYMM) 6 N 8 to 13 Period of Reporting (YYYYMM) Actual period of data / flows (YYYYMM) [previous to reporting period for back data otherwise same] 6 N 14 to 19 Actual period of the data record. YYYY represents Year and MM represents Month N.R. D. Scheme code 4 A 20 to 23 Left justified. As per code Box 1 Account Type 1 A 24 F for Fixed; R for Recurring; S for Savings; C for Current A/c Category of Account holder 1 A 25 I for Individual; O for OCB; S for Students Original Maturity 1 N 26 1 to 9 As per code box 2 Remaining Maturity 1 N 27 1 to 9 As per code box 2 Country (SWIFT code) 2 A 28 to 29 SWIFT Country code A/c Currency (SWIFT code) 3 A 30 to 32 As per code box 3 Record - type Code 2 A 33 to 34 As per Code Box 4 Record - Amount 15 N 35 to 49 Amount in A/c currency in integer (without decimal point). No of Account 15 N 50 to 64 Number account for which amount has been aggregated Important: Please report data only once. Reporting same data repeatedly will lead to inconsistency. Once data is created using the NRD-CSR package, it also includes one more file giving Bank name, address contact details. In case file is prepared by bank from bank's own system, please report the details about Bank name, Part I code, postal address, city, pin, name of responsible officer, phone fax numbers with e-mail id in the forwarding letter. In that case, to ensure accuracy of the format, they may use NRD-CSR 2.1 Head Office module and load data. Details of codes to be used in the NRD-CS Return are presented in the next few pages. [A.P.(DIR Series) Circular No.8 dated August 26, 2004 ] Details of codes used in the NRD-CSR electronic reporting format are as follows: Code Box 1 Non-Resident Deposit Scheme Code Sr. No. Account under the Scheme Scheme Code Foreign Currency Non-Resident (FCNR) A/c FCNR Non-Resident External (NRE) Rupee Account NRE Non-Resident (Non-Repatriable) (NRNR) Rupee A/c NRNR Non-Resident Special Rupee (NRSR) Account NRSR Non-Resident Ordinary (NRO) Rupee Account NRO Code Box: 2 Maturity Code Sr. No. Maturity Classification Maturity Code Up to and inclusive of six months 1 Over six months but less than one year 2 Exactly one year 3 Over one year but less than two years 4 Exactly two years 5 Over two years but less than three years 6 Exactly three years 7 Over three years 8 Unallocated (Savings A/c) 9 In case of savings account residual maturity cannot be determined. In such cases, the residual maturity should be treated as unallocated. Code Box: 3 Currency Code Sr. No. Currency Name Currency Code EURO EUR Pound Sterling GBP United States Dollar USD Japanese Yen JPY Indian Rupees INR Probable currencies acceptable under Non-Resident Deposits during the last few years as per SWIFT Code. Code Box 4 : Record Type Code No. Record Type Description of data item on the record Code Inflow Fresh inflow from abroad (total) FI High value* amount of inflow from abroad (of FI) HA Amount of interest reinvested IR Amount renewed / transfer from other A/c PR Local inflow (for NRO Savings A/c) LI Outflow Amount of principal remitted abroad (total) PA High value* amount of principal remitted abroad (of PA) HP Amount of interest remitted abroad (total) IA High value* amount of interest remitted abroad (of IA) HI Amount of principal remitted locally PL Amount of interest remitted locally IL Local withdrawals (gifts, tax, donations etc.) LW Transfers to other A/cs including renewals TR Balance Opening Balance, including unclaimed OB Closing Balance, including unclaimed CB Unclaimed Balance UC Interest Accrued as on (end of Ref. Month) AI Interest Suspense Balance (Interest Arrears) SB Average Interest rate in terms of basis points (rate * 100) AR Note: - Above codes are to be used for reporting data under NRD-CSR reporting system from the date of implementation as communicated by RBI. - Limits of high value amounts in respective currencies are as follows Indian Rupees 10,00,000 United States Dollar 23,000 Euro 20,000 Grate Britain Pound 12,500 Japanese Yen 25,00,000 - In case the NRD-CSR package, as available on RBI web site, is being used by banks to generate such data for reporting to RBI, they should ensure to use Version 2.1, which takes care of these codes, data and format suitably. ANNXURE The Downloading and Installing Instructions Unzip the zipped file (nrdcsr2plr). After unzipping the same, four files would appear viz. INSTALL, NRD-CSR, PKUNZIP and README. Copy these four files in a new floppy. Install in your system as per the instructions given in the file README.