RBI, last week had launched a module for reporting Foreign Currency Transfer of Shares (FCTRS) on eBiz portal of the Ministry of Commerce & Industry.
"This initiative is a step forward in the direction of promoting the ease of doing business in India," it said in a statement.
The FCTRS service on eBiz portal will facilitate reporting of transactions relating to transfer of shares and other instruments of foreign direct investments (FDI) between a resident and a non-resident, currently being done in FCTRS form.
Physical filing of returns will be discontinued in next three months, RBI said.
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