FETERS Cards reporting requires banks to submit detailed international card and UPI transaction data to the RBI portal. Mandatory submission by Category I Authorised Dealer banks of FETERS-Cards returns on the RBI web portal detailing international credit/debit card and UPI transactions with MCC, country, currency, amount (payment/refund) and transaction modality (card present/not present; QR code scan). Reporting covers forex sales by card issuing ADs and forex purchases by merchant acquirer ADs across PoS, e commerce and account transfers, to be submitted within seven working days of month end, effective for transactions from April 1, 2021, under Sections 10(4) and 11(2) of the Foreign Exchange Management Act, 1999.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
FETERS Cards reporting requires banks to submit detailed international card and UPI transaction data to the RBI portal.
Mandatory submission by Category I Authorised Dealer banks of FETERS-Cards returns on the RBI web portal detailing international credit/debit card and UPI transactions with MCC, country, currency, amount (payment/refund) and transaction modality (card present/not present; QR code scan). Reporting covers forex sales by card issuing ADs and forex purchases by merchant acquirer ADs across PoS, e commerce and account transfers, to be submitted within seven working days of month end, effective for transactions from April 1, 2021, under Sections 10(4) and 11(2) of the Foreign Exchange Management Act, 1999.
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