The Reserve Bank of India (RBI) had presented two new forms (Single Master Form and Entity Master Form) with the point of improving reporting under the Foreign Exchange and Management Act, 1999 (FEMA). RBI has presented FIRMS, an online application which gives the interface for filing of EMF and SMF. Online reporting on FIRMS must be made in two stages: In the first phase, the f... https://www.estartindia.com/fdi-compliances