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All electronic payments (in any payment currency) sent to India from other countries require a purpose of payment/purpose code as defined by the Reserve Bank of India. A valid purpose of payment/purpose code must be included in the payment details of the funds transfer instructions or the transaction will not be processed.

For bank to bank transfers, the purpose of payment/purpose code must also be included with the bank information. Failure to comply with this mandate may result in payments being rejected.

Access the Reserve Bank of India's website for the latest list of purpose codes (click on "as per the attached guidelines" under #3 for details). Purpose codes beginning with "P" are to be used for all transactions.


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