RBI removes amount thresholds for online submission of Form A2, allowing all remittances to be filed electronically, simplifying forex compliance for authorised dealers.
RBI Removes Cap on Online Form A2 Submissions
Effective October 1, 2026, the Reserve Bank of India (RBI) has removed the monetary threshold for online submission of Form A2 under the Foreign Exchange Management Act (FEMA) framework. All remittances, regardless of value, may now be reported online by Authorised Dealers (ADs) Category I banks and AD Category II entities through the designated electronic platform.
This amendment, issued via AP (DIR Series) Circular No. 23 of 2026, modifies earlier guidance in Circular No. 12 dated July 3, 2024, which restricted online filing to remittances below a specified limit. The change streamlines compliance, reduces physical documentation, and aligns with the RBI's digital transformation goals in foreign exchange management.
AD banks must now ensure all staff are trained on the updated process, and internal systems are configured to allow universal online filing. The removal of limits reduces administrative burden but increases the onus on banks to authenticate high-value transactions independently.
Citations
- AP (DIR Series) Circular No. 12, 2024