Economy
RBI Replaces Legacy Filing Rules for Banks’ Non-Resident Deposits
RBI has replaced the earlier NRD-CSR framework with CIMS Sankalan reporting, requiring banks to file monthly returns by the 10th.
What happened
RBI has superseded its 2013 circular on monthly Non-Resident Deposits Comprehensive Single Return filings through XBRL. Banks must now submit the NRD-CSR return, coded R012, through the CIMS Sankalan portal using system integration, file upload or a web form. The revised format is version 11.0.3, while screen-based submissions are limited to 2,000 records.
Why it matters
Banks maintaining non-resident deposit accounts must align their reporting processes with CIMS, use the prescribed format and meet the monthly filing deadline.
Source: RBI Notifications