Reserve Bank of India shifts AD Category I banks' BO/LO/PO and NRO remittance monthly returns to the CIMS portal from 30 June 2026
Authorised Dealer Category I banks must file their monthly BO/LO/PO statement (return code R343) and NRO remittance statement (R006) through the RBI CIMS portal, with the R343 return due on CIMS from the month ending June 2026.
Change
With effect from 30 June 2026, the Reserve Bank of India requires Authorised Dealer Category I banks to upload the consolidated monthly BO/LO/PO statement to the Centralized Information Management System (CIMS) portal under return code R343 from the month ending June 2026 (NIL report where no data), and shifts the monthly NRO-account remittance statement to CIMS under return code R006.
Why it matters
The change moves two FEMA monthly returns from direct submission to the RBI Foreign Exchange Department onto the CIMS portal: the BO/LO/PO open/close statement under code R343 and the NRO-account remittance statement under code R006. AD Category I banks must file R343 on CIMS from the month ending June 2026, uploading a NIL report where there is nothing to report. The Master Direction on Reporting under FEMA, 1999 is being updated to reflect the new submission channel.
Implications
- — Authorised Dealer Category I banks must upload the consolidated R343 BO/LO/PO statement to the CIMS portal for the month ending June 2026 and thereafter, including a NIL report where no data exists — failure to upload constitutes non-compliance with RBI reporting directions issued under FEMA.
- — Authorised Dealer Category I banks must shift submission of the monthly NRO-account remittance statement to the CIMS portal under return code R006, replacing the prior direct-submission channel — continuing to file through the old channel does not satisfy the reporting obligation.
- — Authorised Dealer Category I banks' reporting teams must reconfigure their FEMA return-submission processes to the CIMS portal for both returns and reflect the updated Master Direction on Reporting, to avoid missed or mis-channelled filings.
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