The RBI has mandated that all specified Foreign Exchange Management Act (FEMA) reports must now be submitted digitally through the Centralized Information Management System (CIMS) from June 30, 2026.
RBI Implements Digital Submission for FEMA Reporting
The Reserve Bank of India (RBI) has issued a directive requiring all specified FEMA-related statements to be filed through the Centralized Information Management System (CIMS), effective June 30, 2026. This move signifies a shift towards more streamlined and efficient procedures for compliance under FEMA.
Authorized Dealer (AD) Category-I banks are now required to utilize designated return codes and submit NIL reports where applicable. This initiative aims to enhance the transparency and efficiency of foreign exchange reporting processes in India.
Professionals working in foreign exchange compliance should prepare their clients for this transition to digital filing. The mandate underscores the RBI's focus on improving regulatory practices and ensuring timely reporting.
Citations
- RBI Circular (2026)
