Export Outstanding Statement (XOS) Online Bank wide Submission - FEMA - 60

RBI/2013-14/306 A.P. (DIR Series) Circular No. 60 October 01, 2013 To All Category - I Authorized Dealer Banks Madam / Sir, Export Outstanding Statement (XOS) Online Bank wide Submission Attention of Authorized Dealer Category I (AD Category I) banks is invited to A. P. (DIR Series) Circular No. 12 dated September 9, 2000 in terms of which AD Category I banks are required to furnish to the Regional Office concerned of the Reserve Bank, a consolidated statement in Form XOS giving details of all export bills outstanding beyond six months from the date of export on a half yearly basis as at the end of June and December every year. 2. It has been decided that with effect from the half year ending December 2013, XOS submission should be made online and Bank-wide instead of the present system of branch-wise submission through the respective Regional Offices of Reserve Bank of India. Accordingly, AD Category-I Banks are advised to designate a Nodal Branch which shall be submitting the XOS data for the AD Bank as a whole. Further, the software for Bank-wide online submission of XOS data would allow direct access to the all AD Category I Banks to the RBI server to enable uploading of the XOS data directly to RBI server for which the necessary User ID and Password would be allotted to them in due course. 3. For the benefit of AD Category I banks, demonstration of the above software changes have also been carried out on July 26, 2013. Further, the CSV file format and Bank User Manual for the related software changes have also been shared via e-mail. 4. AD Category I banks may accordingly, put in place the requisite infrastructure and processes at their end. They may test check the proper uploading of data by sending across to us their sample test data at e-mail up till October 31, 2013. After checking the same, Reserve Bank shall send the feedback report to the respective AD Category I banks. 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, (C.D Srinivasan) Chief General Manager