Modification option now available for filing FCGPR (FDI) Reporting on FIRMS Portal

Modification option now available for filing FCGPR (FDI) Reporting on FIRMS Portal. The Reserve Bank of India (RBI) has recently rolled out two major updates that significantly ease the process of foreign investment compliance by filing FCGPR at FIRMS Portal under FEMA, 1999, which pertain to:

Modification Option for FC-GPR Forms filing/No rejection directly

Simplified Reporting of Foreign Investment in Single Master Form (SMF)

Together, these measures make the FIRMS Portal more efficient, transparent, and user-friendly for companies, professionals, and Authorised Dealer (AD) banks.Hence the above new update particularly benefits Compliance Calendar LLP , a team of professionals such as Company Secretaries and also helps startups, and compliance officers handling regular FDI inflows and share allotment compliances.
Now, Modification option for FC-GPR enabled on FIRMS Portal
Until recently, if an FC-GPR form filed on the FIRMS Portal was rejected by the AD Bank, applicants were compelled to start from scratch, re-enter all form data, re-upload documents, and initiate a fresh submission and these repetitive process created compliance fatigue and delayed statutory timelines along with another fresh query in each application. 
However, RBI has now enabled a modification feature for FC-GPR filings on the FIRMS Portal, welcome and much-needed change.
What’s New:

Applicants can now edit the same FC-GPR form based on the AD Bank’s observations.

There is no need to create a new form or upload all documents afresh.

Once corrections are made, the same form can be resubmitted, streamlining the overall process and fast FDI approval.

How beneficial ?

Earlier

Now

Fresh form had to be created on rejection

Existing form can be edited

Full re-entry of data and documents

Minimal correction and resubmission

High time and effort required

Significant reduction in compliance burden

Higher chance of delays and non-compliance

Timely resolution and efficiency

Simplified SMF Filing Procedure Introduced by RBI
We all know that, RBI has also simplified the reporting process through (RBI A.P. (DIR Series) Circular No. 22 dated January 4, 2023) for foreign investment using the Single Master Form (SMF) through the FIRMS Portal, an update introduces a streamlined, time-bound, and fully digital workflow.
Simplified SMF Process (Foreign Investment in India - Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal) 
1. Auto-Acknowledgement of Forms

Once submitted, forms are auto-acknowledged with a timestamp on FIRMS Portal.

An automated email is sent to the applicant.

2. AD Bank Review Within 5 Working Days

The form and uploaded documents will be verified by the Authorised Dealer (AD) Bank within five working days.

3. Clear Protocol for Delayed Submissions

If the reporting is delayed up to 3 years, the applicant is directed to pay the Late Submission Fee (LSF).

For delays beyond 3 years, the matter must be compounded under FEMA.

4. Post-LSF Action by RBI

Once the LSF is paid, the concerned Regional Office (RO) of RBI will update the status on the FIRMS Portal.

The applicant is notified via system-generated email.

5. Rejection Remarks Made Transparent

Communicated via automated email, and

Made available on the FIRMS Portal for reference.

In case of rejection, reasons are:

Therefore after all above cited new changes or new updates, RBI has taken significant steps to improve the efficiency and transparency of foreign investment reporting:

No more redundant FC-GPR filings
Timely updates and acknowledgments
Clear workflows for delayed filings
Improved the user experience on FIRMS Portal

Now, Professionals and companies are advised to leverage these features effectively, remain vigilant of deadlines, and maintain comprehensive documentation to ensure full FEMA compliance on time by filing FG-GPR reporting for FDI in case of any Foreign WOS company Registration process or Investment in an Indian company by foreign nationals.

The Reserve Bank of India (RBI) has recently rolled out two major updates that significantly ease the process of foreign investment compliance by filing FCGPR at FIRMS Portal under FEMA, 1999, which pertain to:

Modification Option for FC-GPR Forms filing/No rejection directly
Simplified Reporting of Foreign Investment in Single Master Form (SMF)

Now, Modification option for FC-GPR enabled on FIRMS Portal

Until recently, if an FC-GPR form filed on the FIRMS Portal was rejected by the AD Bank, applicants were compelled to start from scratch, re-enter all form data, re-upload documents, and initiate a fresh submission and these repetitive process created compliance fatigue and delayed statutory timelines along with another fresh query in each application.

However, RBI has now enabled a modification feature for FC-GPR filings on the FIRMS Portal, welcome and much-needed change.

What’s New:

Applicants can now edit the same FC-GPR form based on the AD Bank’s observations.
There is no need to create a new form or upload all documents afresh.
Once corrections are made, the same form can be resubmitted, streamlining the overall process and fast FDI approval.

How beneficial ?

Earlier	Now
Fresh form had to be created on rejection	Existing form can be edited
Full re-entry of data and documents	Minimal correction and resubmission
High time and effort required	Significant reduction in compliance burden
Higher chance of delays and non-compliance	Timely resolution and efficiency

Simplified SMF Filing Procedure Introduced by RBI

We all know that, RBI has also simplified the reporting process through (RBI A.P. (DIR Series) Circular No. 22 dated January 4, 2023) for foreign investment using the Single Master Form (SMF) through the FIRMS Portal, an update introduces a streamlined, time-bound, and fully digital workflow.

Simplified SMF Process (Foreign Investment in India - Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal)

1. Auto-Acknowledgement of Forms

Once submitted, forms are auto-acknowledged with a timestamp on FIRMS Portal.
An automated email is sent to the applicant.

2. AD Bank Review Within 5 Working Days

The form and uploaded documents will be verified by the Authorised Dealer (AD) Bank within five working days.

3. Clear Protocol for Delayed Submissions

If the reporting is delayed up to 3 years, the applicant is directed to pay the Late Submission Fee (LSF).
For delays beyond 3 years, the matter must be compounded under FEMA.

4. Post-LSF Action by RBI

Once the LSF is paid, the concerned Regional Office (RO) of RBI will update the status on the FIRMS Portal.
The applicant is notified via system-generated email.

5. Rejection Remarks Made Transparent

Communicated via automated email, and
Made available on the FIRMS Portal for reference.
In case of rejection, reasons are:

Therefore after all above cited new changes or new updates, RBI has taken significant steps to improve the efficiency and transparency of foreign investment reporting: