Expand FETERS

Solution

Ø  IBUs (International Banking units) are, directed to report the details of their foreign exchange transactions undertaken from November 1, ,2022 onwards on a fortnightly basis (i.e., 15th day of the month and end of the month), within seven calendar days from the close of the reporting period to which it relates, through the designated web portal at https://bop.rbi.org.in in the specified format. Ø  Also, The IBUs shall indicate economic activity (purpose for the transaction) for all foreign exchange transactions under FETERS (Foreign Exchange Transaction Electronic Reporting System (FETERS) managed by the RBI.