The Reserve Bank of India (RBI) on June 24, 2026, issued a circular regarding the modification of Returns / Reporting requirements under FEMA, 1999.
The following has been stated:-
•The Reserve Bank of India (RBI) has rationalised reporting requirements under FEMA, 1999 by revising and introducing updated reporting formats for Authorised Persons.
•The revised FLM-8 return will now include details of write-offs of foreign currency notes, and prior RBI approval for write-offs exceeding USD 2,000 has been dispensed with.
•Authorised Persons with franchisee arrangements and Indian Agents under the Money Transfer Service Scheme (MTSS) must submit quarterly lists of franchisees and sub-agents within 15 days of the end of each calendar quarter.
•RBI has also discontinued several reporting requirements, including FLM-1 to FLM-7 registers, certain quarterly statements, MTSS-related location confirmations, and collateral returns, while retaining the obligation to maintain records and ensure collateral adequacy.
•These changes aim to simplify compliance and streamline reporting under FEMA.
The detailed circular is given in the document below.
[Circular No.: RBI/2026-27/174 A.P. (DIR Series) Circular No.17]
