Trade Finance

R – RETURN Application

Objective

To deal with processing all inward and outward transactions currency wise and reporting to the Reserve Bank of India on a fortnightly basis within a specified time.

Goals

The R - Return Application saves transactional time and cost involved in processing and filing returns to the Reserve Bank of India in a timely manner.

Solution

The files will be generated with the help of LMCC interface which are required to be generated on a fortnightly basis. The below mentioned steps will ensure a user to generate output files such as

  • BANKCODE_BOP6.TXT (Sale and Purchase Of Foreign Exchange)
  • BANKCODE_QE.TXT (Cover Page Totals)

    The system will also generate various reports to help user tally accounts and R-Return documents – Currency wise as per RBI Format.

The LMCC Application will generate the files as per RBI guidelines after ensuring completeness of data and validation of purpose and port codes.

The files will be generated with the help of LMCC interface which are required to be generated on a fortnightly basis.

The files for RBI as per the file layout provided by them are -

  •     BANKCODE_BOP6.TXT (Sale and Purchase Of Foreign Exchange)
  •     BANKCODE_QE.TXT (Cover Page Totals)

The system will also generate various reports to help user tally accounts and R-RETURN documents – Currency wise as per RBI Format. 

Features 

  • Web Based Application
  • Clean and user friendly user interface
  • Easily upload data from core banking solutions
  • Data Entry of Opening Balances / Closing Balance for Nostro
  • Data Entry of Opening Balance / Closing Balance for Vostro
  • Data Validation Reports
  • Data Checklist Reports for Maker/Checker functions
  • File Creation for the Reserve Bank of India
  • Export to multiple file formats with ease
  • Admin / User / Supervisor roles
  • Audit Trail

 

For more information kindly email us at [email protected]

Thanks for reading!

 

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