Corporate Updates – 24-02-2017

E-BIZ Portal:

This is for your information that, RBI services offered through eBiz portal will be migrating to a new platform from 27th February ‘2017. RBI services includes Reporting of Advanced Foreign Remittance, Reporting of FC-GPR & Reporting of FC-TRS. Due to migration activities, RBI services will not be available on eBiz portal from 24th Feb ’17 to 26th Feb ’17. Post migration, you can continue to apply for these services through eBiz portal. You will be redirected to new platform from the service page. Further, On the new platform, pdf forms have been replaced with web forms. You have the provision to save in draft while filling the forms. In order to apply digital signature, you will be required to register your digital signature on eBiz and install setup file for eMSigner. The details are present in the attached help document.


RBI has issued a Master direction on Money Transfer Service Scheme (MTSS) of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible. No outward remittance from India is permissible under MTSS. The upper limit for movement of cash in INR would be Rs.10,00,000/- and in Foreign Currency equivalent of USD 1,00,000 except the transactions where the imported foreign currency is being transported to the offices/ branch of the Authorised Persons who are Indian Agents under the Money Transfer Service Scheme (AP).

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