RBI - FETERS R-Returns Report

FETERS R-Returns Solution to meet RBI Regulatory Requirements

The Financial Action Task Force (FATF) is an inter-governmental body whose objectives to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.

The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures and promotes the adoption and implementation of appropriate measures globally.

Smarter More Strategic Approach to FETERS R-Returns Reporting

RBI guidelines for compilation of R-Returns and reporting under the Foreign Exchange Transactions – Electronic Reporting System (FETERS), and also the A.P.(DIR Series) Circular No. 30 dated February 25, 2008 on the move from the system of ‘branch-wise’ reporting to ‘bank-wise’ reporting under the FETERS.

The purpose codes for classification and reporting of foreign exchange transactions in FETERS should be as per the revised classification.

AD banks may indicate purpose codes for all foreign exchange transactions (including receipts under non-export transactions below Rs. 5 lakhs) under FETERS.

6-digit port code will be used uniformly for reporting under FETERS.

Banks may submit datafiles on a fortnightly basis.

Inter-relationship among files BOP6.TXT, QE.TXT and R-Return cover page should be ensured.

Records with audit to be maintained for a minimum period of 5 years from date of transaction.

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Automate all of your Regulatory Reportings to government bodies in one Regulatory Suite platform.

FETERS R-Returns Solution Features

Web Based Portal accessible across the bank departments

Request and Response between browser and Server is Encrypted. 

Portal Flexible and Customisable with Pull and Push API Features

Reporting of Vostro, Treasury, all Forex Transactions types, etc

Real-time status of Matched / UmMatched Messages

Maintenance of Historical Messages

Validated Output obtained as per RBI Requirement

Validations for Vostro A/c Country Code, Currency
Consistency Checks at Level 1, 2 and 3

Automated QE Purpose Code defined based on Transaction Purpose Codes

Auto Computation of Opening Balance and its related Closing balance
Zero Restriction on Past Data Incorporation

BOP and QE File uploads for Record Rectification

Cascading the rectified records and regeneration of BOP and QE files
Subtotal computation with Previous balances
Generating requisite files post classifying transactions in appropriate QE Purpose Codes

Master Data Mainteance

Purpose Code, Country, Currency Master, Branch and AD code master maintenenace
Card Rate Master upload fesibility
Rate if not available from Txn then same can be fetched from Card Rate Master

Why Banks Choose Kyzer Us

Compilation & Reconciliation

Automated compliance, reconciliation & reporting for Trade Transactions across all platforms

Regulatory Reports Business Intelligence

Customization to Automated Reports, Kyzer also provides Business Intelligence for improving Customer eXperience / TAT

RBI Portal Master Management

Masters management within the solution offers validations to ensure optimum accuracy of reporting.

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