RBI has been collecting details of Foreign Exchange Transactions – Electronic Reporting System (FETERS) and has been issuing guidelines in this regard from time to time and modifying the manner and the scope of reporting.
RBI has now decided to collect details of sale of forex towards international transaction made by Indian resident and purchase of forex by AD under transaction by the foreign resident with Indian residents through the use of international credit card/ debit card/ unified payment interface (UPI) along with their economic classification (Merchant category code – MCC) through a new return called ‘FETERS-Cards’ using the same web-portal viz. https://bop.rbi.org.in.
(Source: A. P. (DIR Series) Circular No. 13 dated 25th March 2021)