Upgradation of Non-Resident Deposits–Comprehensive Single Return - FEMA - 055

Upgradation of Non-Resident Deposits-Comprehensive Single Return (NRD-CSR)- Version 2.1(R) to Version 3.0 RBI/2006-2007/386 A. P. (DIR Series) Circular No. 55 May 09, 2007 To, All Banks Authorised to Deal in Foreign Exchange Madam / Sir, Upgradation of Non-Resident Deposits-Comprehensive Single Return (NRD-CSR)- Version 2.1(R) to Version 3.0 Attention of banks maintaining Non-Resident Deposit (NRD) Accounts is invited to A. P. (DIR Series) Circular No. 99 dated April 30, 2003, in terms of which the data on Non-Resident Deposits is required to be submitted in the CSR format on a monthly basis based on the recommendation of the National Statistical Commission. 2. Rationale for the new version - The existing NRD-CSR version 2.1 (R) application package has been revised and upgraded to version 3.0 due to the following changes that have taken place recently : (i) Modification in the IBS format on account of the implementation of the BIS (Bank for International Settlements) System of compilation of International Banking Statistics (IBS) of India; (ii) Addition of two new currencies viz. Australian Dollar (AUD) and Canadian Dollar (CAD) and increase in the maturity buckets in the FCNR (B) deposits [cf DBOD. Dir. BC. 22 / 13.03.00/ 2005-06 dated July 26, 2005]; and (iii) Need to provide useful tools to the user banks. Accordingly, NRD-CSR (version 3.0) has been developed to capture the above developments, in a user friendly manner. Further, the Stat Returns have also been modified. 3. Manner of Submission As per the extant guidelines, banks authorised to deal in foreign exchange are submitting Stat 5 for FCNR (B) accounts and Stat 8 for NRE accounts to the Foreign Exchange Department, Reserve Bank of India, Trade Division, Central Office, Amar Building, Mumbai. Effective from April 2007, such banks are required to submit a soft copy of the revised Stat 5 and Stat 8 Returns in Microsoft Excel format, by email. A hard copy of the Returns should be sent at the following address. The Director, Reserve Bank of India, Department of Statistical Analysis Computer Services (DESACS), Balance of Payments Statistics Division, C-9/8, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051. 4. The revised formats of Stat 5 and Stat 8 and the NRD-CSR Version 3.0 Application Software package have been placed on the Reserve Bank's website www.rbi.org.in (under Notification FEMA Electronic Reporting System). Installation guide and user's guide for the NRD-CSR version 3.0 are available in the zipped file viz. nrdcsr3p0.zip. The revised formats of Stat 5, Stat 8 and the data structure of NRD-CSR are given in Annex - I, Annex - II and Annex - III, respectively. It may be noted that there is no change in the structure of NRD-CSR format. 5. Co-operative Banks and Regional Rural Banks may submit the hard and soft copies of Stat 5 and Stat 8 Returns, in the revised formats/version, beginning with the data for April 2007, to the Regional Offices of the Foreign Exchange Department, Reserve Bank. 6. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (Salim Gangadharan) Chief General Manager Annex- III [Annex to A. P. (DIR Series) Circular No. 55 dated May 09, 2007] Non-Resident Deposits - Comprehensive Single Return: Format for Electronic Reporting (version 3.0) 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 The actual period of the data record. YYYY represents the Year and MM represents the 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; S for Student 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 of account for which amount has been aggregated Note : (i) The data should be reported only once. Reporting same data repeatedly will lead to inconsistency since each time data is created using the NRD-CSR package, it creates one more file giving Bank name, address contact details. (ii) In case file is prepared by bank from bank's own system, the details about Bank name, Part I code, postal address, city, pin, name of responsible officer, phone fax numbers with e-mail id may be reported in the forwarding letter. Further, to ensure accuracy of the format, it is advised that banks should use NRD-CSR 3.0 Head Office module and load data in the Input and get NRD-CS Return in the output after checking the data. Details of codes used in the NRD-CSR electronic reporting format 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 Note : NRNR and NRSR Accounts have been discontinued. 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/Current/Unclaimed Accounts) 9 In case of Savings/Current/Unclaimed Deposit Accounts, the residual maturity cannot be determined. In such cases, the residual maturity should be treated as unallocated (with code 9). Code Box: 3 Currency Code Sr. No. Currency Name Currency Code Australian Dollar AUD Canadian Dollar CAD Euro EUR Great Britain Pound GBP Indian Rupees INR Japanese Yen JPY United States Dollar USD 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 Inflows Fresh inflow from abroad (total) FI High value* amount 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 Outflows Amount of principal remitted abroad (total) PA High value* amount of principal remitted to abroad (of PA) HP Amount of interest remitted abroad (total) IA High value* amount of interest remitted to 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/c including renewals TR Balances 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) AR Note : The above codes are to be used for the reporting of data under NRD-CSR System to RBI. The currency-wise cut-off limits of the high value transaction amounts are as below: Currency Code Currency Amount AUD Australian Dollar 30,000 CAD Canadian Dollar 27,500 EUR Euro 20,000 GBP Great Britain Pound 12,500 INR Indian Rupees 10,00,000 JPY Japanese Yen 25,00,000 USD United States Dollar 23,000