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 RBI 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.

– Every transaction which causes inflow of foreign exchange into India or outflow of foreign exchange from India and affects the position of foreign currency assets or liabilities, is required to be reported to RBI.

– As these transactions take place by way of debits and credits to the Nostro Accounts maintained by the ADs and Vostro accounts of non resident banks maintained with the ADs, every debit and every credit to these
accounts (and only every debit and every credit to these accounts) are required to be reported

– [Exceptions to this rule are ( sale/purchase of foreign currency notes and coins where sales ( and purchases ( are to be shown as such and ( the transactions relating to export bills negotiated, purchased or discounted

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RBI 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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