RBI Mandates Online Reporting via CIMS for FEMA Returns Effective June 30, 2026 [Read Circular]

The Reserve Bank of India (RBI) has directed all Authorised Dealer Category‑I banks to shift key monthly submissions to its Centralized Information Management System (CIMS) portal, effective June 30, 2026.

Under the new framework, banks must upload two specific reports on the portal:

• Branch/Office activity reports (Return Code R343): A consolidated monthly list of branches, liaison offices, and project offices opened or closed. In case of no activity, banks must file a “NIL” report.
• NRO Account remittance reports (Return Code R006): Monthly data on the number of applicants and total amounts remitted from Non‑Resident Ordinary (NRO) Rupee Accounts.

Previously, these statements were submitted to the RBI’s Foreign Exchange Department and Foreign Investments Division in New Delhi. The move to CIMS is aimed at streamlining compliance and ensuring uniform digital reporting.

The RBI has also confirmed that its Master Direction on Reporting under FEMA, 1999 will be updated to reflect the changes. The circular, issued under Sections 10(4) and 11(2) of the Foreign Exchange Management Act (FEMA), 1999, makes the new reporting process legally binding.

The transition to the CIMS portal will reduce manual submissions and improve transparency in monitoring foreign exchange transactions.

Foreign Exchange Management (FEMA)Act, 1999.

The Foreign Exchange Management Act (FEMA), 1999, is India’s key law governing foreign currency transactions. It replaced the older, more restrictive FERA to make cross‑border dealings smoother and better regulated. FEMA empowers the Reserve Bank of India (RBI) to issue directions and monitor how money flows in and out of the country, covering remittances, foreign investments, and payments for imports and exports.

Sections 10(4) and 11(2) of the Act give the RBI authority to prescribe reporting formats and compliance procedures for banks and other entities, ensuring that all foreign exchange activities align with India’s economic and legal framework.

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