A circular was released by the Reserve
Bank of India (‘RBI’) dated June 7,
2018 related to reporting under Foreign Exchange Management Act, 1999 for ECBs
through ECB-2 Return (Annex III of Part V of Master Direction
No.18/2015-16 dated January 01, 2016 on).
Bank of India (‘RBI’) dated June 7,
2018 related to reporting under Foreign Exchange Management Act, 1999 for ECBs
through ECB-2 Return (Annex III of Part V of Master Direction
No.18/2015-16 dated January 01, 2016 on).
As per the said circular, it has been
decided to capture the details of the hedges for ECBs through a simplified
format of ECB 2 Return. Part E of the Return, accordingly, is modified so as to
include only standard information on hedged/unhedged ECB exposure. Details of
hedging in Part E.1 of the Return and foreign exchange earnings and expenditure
in Part E.2 of the Return should be furnished in additive format.
decided to capture the details of the hedges for ECBs through a simplified
format of ECB 2 Return. Part E of the Return, accordingly, is modified so as to
include only standard information on hedged/unhedged ECB exposure. Details of
hedging in Part E.1 of the Return and foreign exchange earnings and expenditure
in Part E.2 of the Return should be furnished in additive format.
Revised
monthly reporting format of ECB 2 Return is applicable with effect from
month-end June 2018.
monthly reporting format of ECB 2 Return is applicable with effect from
month-end June 2018.
