Reserve Bank of India Payment Codes

RESERVE BANK OF

INDIA PAYMENT CODES

Below is the list of Payment Codes required for payments to India exceeding 100,000INR (or 1800 USD equivalent).

To give you a sense of the reporting that local banks in India are required to make, if the purpose of the remittance is by an Indian immigrant for the purpose of family maintenance in India, then it would be reported to RBI with purpose code P1301. Depending on the purpose mentioned in the payment instructions, the Indian bank will ascribe the relevant code for reporting the transaction to RBI.

Group Purpose Group Purpose Description No. Name Code

Repatriation of Indian investment abroad in 00 Capital Account P0001 equity capital (shares)

Repatriation of Indian investment abroad in P0002 debt securities.

Repatriation of Indian investment abroad in P0003 branches

Repatriation of Indian investment abroad in P0004 subsidiaries and associates

Repatriation of Indian investment abroad in real P0005 estate

P0006 Foreign direct investment in India in equity

P0007 Foreign direct investment in India in debt securities

P0008 Foreign direct investment in India in real estate

P0009 Foreign portfolio investment in India in equity shares

Foreign portfolio investment in India in debt P0010 securities including debt funds

P0011 Repayment of loans extended to Non-Residents

P0012 Loans from Non-Residents to India

Receipts o/a Non-Resident deposits P0014 (FCNRB/NRERA etc.) ADs should report these even if funds are not 'swapped' into Rupees.

RESERVE BANK OF

INDIA PAYMENT CODES

Loans & overdrafts taken by ADs on their own account. (Any amount of loan credited to the P0015 NOSTRO account which may not be swapped into Rupees should also be reported)

Purchase of a foreign currency against another P0016 currency.

Sale of intangible assets like patents, copyrights, P0017 trade marks etc. by Indian companies

P0018 Other capital receipts not included elsewhere

Value of export bills negotiated / 01 Exports (of Goods) P0101 purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.)

Realisation of export bills (in respect of goods) sent P0102 on collection(full invoice value)

Advance receipts against export contracts (export of P0103 goods only)

Receipts against export of goods not covered by the P0104 GR/PP/SOFTEX/EC copy of shipping bill etc.

P0105 Export bills (in respect of goods) sent on collection.

Conversion of overdue export bills from NPD to P0106 collection mode

Realisation of NPD export bills (full value of bill to be P0107 reported)

Receipts of surplus freight/passenger fare by Indian 02 Transportation P0201 shipping companies operating abroad

Purchases on account of operating P0202 expenses of Foreign shipping companies operating in India

Purchases on account of operational leasing (with P0205 crew) – Shipping companies

Receipts of surplus freight/passenger fare by Indian P0207 Airlines companies operating abroad.

P0208 Receipt on account of operating

RESERVE BANK OF

INDIA PAYMENT CODES

expenses of Foreign Airlines companies operating in India

Purchases on account of operational leasing (with P0211 crew) – Airlines companies

Receipts on account of other transportation P0213 services (stevedoring, demurrage, port handling charges etc).

Purchases towards travel (Includes purchases of foreign TCs, currency notes etc over the counter, by hotels, hospitals, Emporiums, Educational 03 Travel P0301 institutions etc. as well as amount received by TT/SWIFT transfers or debit to Non-Resident account).

P0308 FC surrendered by returning Indian tourists.

Communication 04 P0401 Postal services Service

P0402 Courier services

P0403 Telecommunication services

P0404 Satellite services

Receipts for cost of construction of services projects 05 Construction Service P0501 in India

06 Insurance Service P0601 Receipts of life insurance premium

Receipts of freight insurance – relating to import & P0602 export of goods

Receipts on account of other general insurance P0603 premium

P0604 Receipts of Reinsurance premium

Receipts on account of Auxiliary services ( P0605 commission on insurance)

P0606 Receipts on account of settlement of claims

Financial intermediation except investment banking 07 Financial Services P0701 – Bank charges, collection charges, LC charges, cancellation of forward contracts, commission on

RESERVE BANK OF

INDIA PAYMENT CODES

financial leasing etc.

Investment banking – brokerage, under writing P0702 commission etc.

Auxiliary services – charges on operation & P0703 regulatory fees, custodial services, depository services etc.

Computer & 08 P0801 Hardware consultancy Information Services

Software implementation (other than those covered P0802 in SOFTEX form)

P0803 Data base, data processing charges

P0804 Repair and maintenance of computer and software

P0805 News agency services

Other information services- Subscription to P0806 newspapers, periodicals, etc.

Royalties & License Franchises services – patents,copy rights, trade 09 P0901 Fees marks, industrial processes, franchises etc.

Receipts for use, through licensing arrangements, of P0902 produced originals or prototypes (such as manuscripts and films)

Other Business Merchanting Services – net receipt (from sale and 10 P1001 Services purchase of goods without crossing the border).

Trade related services – Commission on P1002 exports/imports.

Operational leasing services (other than financial P1003 leasing and without operating crew) including charter hire

P1004 Legal services

Accounting, auditing, book keeping and tax P1005 consulting services

Business and management consultancy and public P1006 relations services

RESERVE BANK OF

INDIA PAYMENT CODES

Advertising, trade fair, market research and public P1007 opinion polling services

P1008 Research & Development services

Architectural, engineering and other technical P1009 services

Agricultural, mining and on –site processing services – protection against insects & disease, increasing of P1010 harvest yields, forestry services, mining services like analysis of ores etc.

P1011 Inward remittance for maintenance of offices in India

P1012 Other services not included elsewhere

Audio-visual and related services – services and Personal, Cultural & associated fees related to production of motion 11 P1101 Recreational services pictures, rentals, fees received by actors, directors, producers and fees for distribution rights.

Personal, cultural services such as those related to museums, libraries, archives and sporting activities P1102 and fees for correspondence courses of Indian Universities/Institutes

Government, not 12 included elsewhere P1201 Maintenance of foreign embassies in India (G.n.i.e.)

Maintenance of international institutions such as P1203 offices of IMF mission, World Bank, UNICEF etc. in India.

Inward remittance from Indian non- 13 Transfers P1301 residents towards family maintenance and savings

P1302 Personal gifts and donations

Donations to religious and charitable institutions in P1303 India

Grants and donations to governments and charitable P1304 institutions established by the governments

P1306 Receipts / Refund of taxes

RESERVE BANK OF

INDIA PAYMENT CODES

14 Income P1401 Compensation of employees

Inward remittance towards interest on loans P1403 extended to non-residents (ST/MT/LT loans)

Inward remittance of interest on debt securities – P1404 debentures / bonds /FRNs etc.

Inward remittance towards interest receipts of ADs P1405 on their own account (on investments.)

P1406 Repatriation of profits to India

P1407 Receipt of dividends by Indians

15 Others P1501 Refunds / rebates on account of imports

Reversal of wrong entries, refunds of amount P1502 remitted for non-imports

Remittances (receipts) by residents under P1503 international bidding process.

P1590 Receipts below $10,000 (say Rs 5,00,000)