Payments into India –

SWIFT Formatting Guide

for Financial Institutions

Contents
INR and Other currencies 2

Introduction 2

Indian Rupee (INR) Currency Restriction 2

INR Payment Information 2

Additional Payment Formatting requirement 2

Export of Service Payments 14

Page 1 of 18
INR and Other currencies
Introduction
The information contained within this currency guide is designed
to help you to understand the regulatory requirements when
sending payments to beneficiaries in India.
For domestic currency control reasons the Reserve Bank of
India (RBI) has strict rules regarding the information that must
be provided within the payment instruction in INR or any other
currency in favour of a beneficiary account at an Indian beneficiary
bank. If you do not have all of the information required, the payment
will be delayed or rejected. Please use this guide in conjunction with
the SWIFT formatting User Guide and ensure
all guidelines laid out are followed carefully.
Indian Rupee (INR) Currency Restriction
• Speculation on the INR currency is not permitted.
• The free flow of foreign exchange funds into and out of India
is prevented by the Foreign Exchange Management Act and
Reserve Bank of India guidelines.
• INR payments are not permitted to any accounts held with
a beneficiary bank located outside India.
• There is no straight-through-processing (STP) in Indian banks
for payments sent from overseas banks.
• Payments can be made to Indian nationals resident in India
for bona fide purposes.
• No tax payments can be made in INR as Barclays is not
authorised to process such transactions.
• For payments related to Foreign Direct Investment, it is
essential that the remitter is aware of the permissible sectors
under the automatic or approval route and the corresponding
‘% of equity’ and FDI cap ceilings. The following link can be
referred for further information https://www.rbi.org.in/scripts/
BS_ViewMasCirculardetails.aspx?id=9006
– Business activities which are Prohibited for Foreign
Investments in India – Annexure 2
– Business sectors and percentage caps for automatic route
and approval route – Annexure 1
FDI payments under approval route will need additional
compliance submissions by the beneficiary before the payment
is processed and hence all FDI payments must be accompanied
mandatorily with beneficiary contact details along with
purpose of payment. Please find additional specific FDI payment
formatting within the table in this guide.
INR Payment Information
The required information must be included in the correct fields
otherwise your payment risks being rejected. At times the
beneficiary bank may ask for further evidences in support of the
information provided before applying the funds. The required
payment information/evidences and/or formatting rules include:
For all payments remitted to India, the information must be
included are as follow:
• A statement describing the Purpose of Payment. This is a
mandatory Indian regulatory requirement; failure to provide the
Purpose of Payment will result in the payment being delayed
or rejected. [Please refer to Payment formatting section for
detailed requirement for certain specific type of payments]
• Ordering Customer’s name, address and bank details
(where ordering customer is the party or company instructing
the payment) – Field 50 of MT103
• If the Ordering Institution is instructing the payment on behalf
of another party (the underlying remitter), the full name and
address of the underlying remitter must be provided. In addition,
the Ordering Institution must provide their Account number,
and if available their SWIFTBIC in the appropriate fields. – Field
50 of MT103
• Indian beneficiary bank details including branch code
(11 character IFSC code). The IFSC code should be provided
in the same location you would provide the beneficiary’s
National Clearing Code – NCC. A full list of IFSC codes can
be found on the Reserve Bank of India website. Information
should be provided in Field 57 of MT103
• For Export type of payments, the beneficiary contact details
(Full name, telephone number and full address) should be
provided to avoid delay– Field 59 of MT103
• There is additional payment formatting requirements
for particular payment types. Please refer to the Additional
Payment Formatting Requirements section below.
Given the strict regulation by the RBI (Reserve Bank of India),
we strongly advise that you or your client to contact the
beneficiary and ensure all of the relevant paperwork and approval
are in place before sending the payment to India.
Additional Payment Formatting requirement
As a general rule you should format your payment fields in line
with the SWIFT formatting User Guide, where more specific
formatting and information is required, we have detailed the
relevant payment information below. Please ensure that you adhere
to these additional guidelines when making payment to India.
In addition, please be aware that the RBI (Reserve Bank of India)
has an extensive list of payment types which are classified as
Export of Services payments. Please refer to the list at the end
of this document to confirm if your payment falls within the
category of an export payment.
To ensure you and your client’s payment being processed efficiently,
Field 70 of MT103 is used to capture majority of the additional
information required. However, for certain payment types, a MT199
message is required from you as account holder of the underlying
remitter to provide KYC information to fulfil local regulatory
reporting requirement by the RBI.
Page 2 of 18
Transfer to Non Resident External Rupee accounts maintained by NRIs in Indian Rupees – NRE/NRO

Information Required SWIFT Format Requirement

• Payment Remitter must be an individual Line 1: /PURPOSE OF PAYMENT

Line 2: /REM STATUS <NRI/PIO /OCI/FOREIGN NATIONAL>
• Beneficiary name must be same as Remitter
Example: Field 70
• Purpose of Payment must be “Credit to Own NRE account” Line 1: /CREDIT TO OWN NRE ACCOUNT
or “ Credit to Own NRO account” Line 2: /REM STATUS NRI
– NRE – Non-Resident External Account
– NRO – Non-Resident Ordinary Account

• Status of Payment Remitter

– NRI – Non-Resident Indian
– PIO – Person of Indian Origin
– OCI – Overseas Citizen of India.

Personal gifts

Information Required SWIFT Format Requirement

• Remitter must be an individual Line 1: /PURPOSE OF PAYMENT

Line 2: /REM STATUS <NRI/PIO/OCI/FOREIGN NATIONAL>
• Purpose of Payment (e.g. “Gift for niece”, “Gift for
anniversary”, “Gift for birthday”) Example: Field 70
Line 1: /GIFT FOR NIECE
• Status of Remitter Line 2: /REM STATUS NRI
– NRI – Non-Resident Indian
– PIO – Person of Indian Origin
– OCI – Overseas Citizen of India
– Foreign National.

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

Information Required SWIFT Format Requirement

• Remitter must be an individual Line 1: /PURPOSE OF PAYMENT

Line 2: /REM RELN <RELATIONSHIP>
• Remitter’s relationship to the Payment Beneficiary should
be relative, which is defined in section 6 of the Companies Example: Field 70
Act 1956 Line 1: /FAMILY MAINTENANCE AND SAVINGS
Line 2: /REM RELN BROTHER
• Purpose of Payment
(e.g. “Family maintenance and savings”
or “Sending money for monthly expenses”).

Page 3 of 18
Donations to religious and charitable institutions in India

Information Required SWIFT Format Requirement

• Beneficiary must always be a legal entity not an individual Line 1: /PURPOSE OF PAYMENT
Line 2: /FCRA No <XXXXXXXXXR>
• Purpose of Payment (e.g. “Purpose is charity”)
Example: Field 70
• The Payment Beneficiary’s FCRA number Line 1: /PURPOSE IS CHARITY
(as an example: 231660134R). The Beneficiary’s FCRA Line 2: /FCRA No 231660134R
number can be confirmed at the Ministry of Home Affairs
website (http://fcraonline.nic.in/fc8_statewise.aspx).

Loan to individuals – From relatives

Information Required SWIFT Format Requirement

• Purpose of Payment (e.g. “Loan for personal use”) Line 1: /PURPOSE OF PAYMENT
Line 2: /BENE RELN TO REM <RELATIONSHIP>
• Remitter must always be an individual Line 3: /LOAN MAT IS> 1 YEAR; INTEREST FREE
Line 4: /LOAN AMOUNT <CURRENCY><LOAN AMOUNT>
• Indian Residents can borrow from a NRI and PIO relatives
up to USD 250k provided that: Example: Field 70
– The minimum maturity of the loan is 1 year Line 1: /LOAN FOR PERSONAL USE
– The loan is interest free Line 2: /BENE RELN TO REM BROTHER
Line 3: /LOAN MAT>1 YEAR INTEREST FREE
• The relationship between lender and borrower is as defined Line 4: /LOAN AMOUNT USD200k
as “relative” in section 6 of the Companies Act 1956.

Loan to individuals – Not from relatives

Information Required SWIFT Format Requirement

• Remitter must always be an individual Line 1: /PURPOSE OF PAYMENT

Line 2: /REM STATUS <REM STATUS>
• Beneficiary must be an individual Indian resident Line 3: /LOAN MAT <3 YEARS: IR <x.y%>
Line 4: /LOAN AMOUNT <CURRENCY><LOAN AMOUNT>
• Purpose of Payment (e.g. “Loan to bene”)
Example: Field 70
• Residents can borrow from a NRI and PIO who is not a relative Line 1: /LOAN TO BENE
provided that: Line 2: /REM STATUS NRI
– The period of the loan does not exceed 3 years Line 3: /LOAN MAT <3 YEARS: IR1.9%
– The rate of interest on the loan shall not exceed 2% over Line 4: /LOAN AMOUNT USD200k
the bank rate prevailing on the date of availment of loan
– Loan repayment and interest must be credited back to the
lender’s NRO (Non-resident Ordinary Rupee account)/
NRSR (Non-resident Special Rupee account).

Page 4 of 18
The NRI remitter is repaying a loan that was taken from the beneficiary who is resident Indian and relative

Information Required SWIFT Format Requirement

• Remitter must always be an individual. Line 1: /PURPOSE OF PAYMENT

Line 2: /REM RELN to BENE <RELATIONSHIP>
• Purpose of Payment must be “Repayment of personal loan” Line 3: /LOAN WAS INTEREST FREE AND MAT PERIOD> 1 YEAR
or “Repayment of business loan” Line 4: /LOAN WAS CR TO NRO AC: BANK NAME

• Residents can lend to non-resident relatives on a non- Example: Field 70

repatriation basis provided: Line 1: /REPAYMENT OF BUSINESS LOAN
– The loan amount was within extant liberalised remittance Line 2: /REM RELN to BENE BROTHER
scheme limit Line 3: /LOAN WAS INTEREST FREE AND MAT PERIOD> 1 YEAR
– Loan is interest free Line 4: /LOAN WAS CR TO NRO AC: STATE BANK OF INDIA
– Minimum maturity period of loan is 1 year
– Loan was credited to borrower’s NRO account
– Loan was utilised for meeting the borrower’s personal
requirements or for his own business purposes in India.

Property Purchase

Information Required SWIFT Format Requirement

• Purpose of Payment (e.g. “House purchase” Line 1: /PURPOSE OF PAYMENT

or “Flat purchase”)
• If the Payment Remitter is a legal entity, please ensure:
– Type of Property which you are purchasing Commercial
for business purposes with RBI approval or 5 year lease
without RBI approvals;
– Branch office or Project office of a foreign entity can
acquire immovable property provided they already have
approval from RBI to set-up such office in India. Liaison
office can acquire immovable property only in the form
of lease not exceeding 5 years.
Line 2: /TYPE OF PROPERTY <XXXXXXXX>
Line 3: /REM STATUS < REM STATUS>
Line 4: /NATIONALITY OF REM <INDIAN>
Example: Field 70
Line 1: /HOUSE PURCHASE
Line 2: /TYPE OF PROPERTY RESIDENTIAL
Line 3: /REM STATUS NRI
Line 4: /NATIONALITY OF REM INDIAN

• Status of Payment Remitter – NRI / PIO /OCI are allowed

to freely purchase immovable property in India except
agricultural land/plantation /farm house. For more
information, you may refer RBI master circular on acquisition
of immovable property. [https://www.rbi.org.in/Scripts/
BS_ViewMasCirculardetails.aspx?id=9004]

• Nationality of Remitter – Citizens of Pakistan, Bangladesh,

Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan,
Macau or Hong Kong need prior approval from the RBI
(Reserve Bank of India) before such acquisitions of
immovable property. Foreign nationals of other countries
can acquire immovable property only on lease not
exceeding 5 years without RBI approval.

• Remitter to be additionally guided by the RBI circular

RBI/2013-14/4 Master Circular No.4 /2013–14 dated
01–07–2013 (and any updates to it) – in relation to
Acquisition and Transfer of Immovable Property in India
by NRIs/PIOs/Foreign Nationals of Non-Indian Origin.

Page 5 of 18
Foreign direct investment – Fresh equity issuance

Information Required SWIFT Format Requirement

• Note: Barclays can only support FDI (Foreign Direct
Investment) payments if the Payment Remitter and the
Investor are the same party.
• Purpose of Payment (e.g. “Purchase of fresh equity”,
“Capital infusion”, or “subscription to equity shares”)
• Payment Beneficiary Contact Details: Name, Telephone
Number, and Email Address
• Name of investee company
• Beneficiary will be contacted to provide the relevant
compliance submissions before funds can be credited
to their accounts
Line 1: /PURPOSE OF PAYMENT
Line 2: /INVESTEE: <NAME>
Line 3: /BENE CONTACT: <NAME>, <TEL. NO.>, <EMAIL>
(Continue text on the following line if needed)
Example: Field 70
Line 1: /PURPOSE IS PURCHASE OF FRESH EQUITY
Line 2: /INVESTEE ABC LTD
Line 3: /BENE CONTACT ASHOK PATEL +912222
Line 4: /222222 ASHOK.PATEL(AT) XYZ.COM
The additional information required by you should be sent within
MT199 together with your payment instruction.

• If the payment remitter is a legal entity, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s Registered Name as the investor
– Their Company Registration Number
– The registered company address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Name of the investee company
– Confirmation as sending bank/account holding bank

• If the payment remitter is an individual, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s full name
– His / Her Passport number, Social Security number or
alternative unique identifier held on your record
– Your client’s registered address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Confirmation as sending bank / account holding bank.

Page 6 of 18
Foreign direct investment – Transfer of existing shares

Information Required SWIFT Format Requirement

• Note: Barclays can only support FDI (Foreign Direct
Investment) payments if the Payment Remitter and the
Investor are the same party.
• Purpose of Payment (e.g. “Transfer of shares” or “Purchase
of 100 shares of ABC Ltd from Ashok Patel”)
• Payment Beneficiary (Seller) Contact Details: Name,
Telephone Number, and Email Address
• Name of the company’s shares which are being sold
• Beneficiary will be contacted to provide the relevant
compliance submissions before funds can be credited
to their accounts
Line 1: /FDI/ PURCHASE OF <XX> SHARES OF <PARTY OF
SHARES BEING SOLD> FROM <SELLER>
Line 2: /BENE CONTACT: <NAME>, <TEL. NO.>, <EMAIL>
(Continue text on the following line if needed)
Example: Field 70
Line 1: / PURCHASE OF 200 SHARES OF ABC
Line 2: /LTD FROM ASHOK PATEL
Line 3: /BENE CONTACT ASHOK PATEL +912222
Line 4: /222222 ASHOK.PATEL(AT) XYZ.COM
The additional information required by you should be sent within
MT199 together with your payment instruction.

• If the payment remitter is a legal entity, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s Registered Name as the investor
– Their Company Registration Number
– The registered company address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Name of the investee company
– Confirmation as sending bank/account holding bank

• If the payment remitter is an individual, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s full name
– His / Her Passport number, Social Security number
or alternative unique identifier held on your record
– Your client’s registered address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Confirmation as sending bank / account holding bank.

Page 7 of 18
Foreign direct investment in India in debt securities (fully, compulsorily and mandatorily convertible debentures)

Information Required SWIFT Format Requirement

• Note: Barclays can only support FDI (Foreign Direct SWIFT Format Requirement
Investment) payments if the Payment Remitter and the Line 1: /FDI/PURPOSE OF PAYMENT
Investor are the same party. Line 2: /INVESTEE: <NAME>
Line 3: /BENE CONTACT: <NAME>, <TEL. NO.>, <EMAIL>
• Purpose of Payment (e.g. “FDI in debt securities”) (Continue text on the following line if needed)

• Payment Beneficiary Contact Details: Name, Telephone Example: Field 70

Number, and Email Address Line 1: /FDI/FDI IN DEBT SECURITIES
Line 2: /INVESTEE: ABC LTD
• Name of investee company Line 3: /BENE CONTACT ASHOK PATEL +912222
Line 4: /222222 ASHOK.PATEL(AT) XYZ.COM
• Beneficiary will be contacted to provide the relevant
compliance submissions before funds can be credited The additional information required by you should be sent within
to their accounts MT199 together with your payment instruction.

• If the payment remitter is a legal entity, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s Registered Name as the investor
– Their Company Registration Number
– The registered company address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Name of the investee company
– Confirmation as sending bank/account holding bank

• If the payment remitter is an individual, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s full name
– His / Her Passport number, Social Security number or
alternative unique identifier held on your record
– Your client’s registered address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Confirmation as sending bank / account holding bank.

Page 8 of 18
Foreign direct investment – All other types not explicitly stated above

Information Required SWIFT Format Requirement

• Note: Barclays can only support FDI (Foreign Direct Line 1: /FDI/PURPOSE OF PAYMENT
Investment) payments if the Payment Remitter and the Line 2: /INVESTEE: <NAME>
Investor are the same party. Line 3: /BENE CONTACT: <NAME>, <TEL. NO.>, <EMAIL>
(Continue text on the following line if needed)
• Purpose of Payment (e.g. “FDI in real estate”)
Example: Field 70
• Payment Beneficiary Contact Details: Name, Telephone Line 1: /FDI/FDI IN REAL ESTATE
Number, and Email Address Line 2: /INVESTEE: ABC LTD
Line 3: /BENE CONTACT ASHOK PATEL +912222
• Name of investee company Line 4: /222222 ASHOK.PATEL(AT) XYZ.COM

• Beneficiary will be contacted to provide the relevant The additional information required by you should be sent within
compliance submissions before funds can be credited MT199 together with your payment instruction.
to their accounts

• If the payment remitter is a legal entity, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s Registered Name as the investor
– Their Company Registration Number
– The registered company address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Name of the investee company
– Confirmation as sending bank/account holding bank

• If the payment remitter is an individual, as account holding

bank you are required to provide the following information
on behalf of your underlying client/remitter:
– Your client’s full name
– His / Her Passport number, Social Security number
or alternative unique identifier held on your record
– Your client’s registered address held on your record
– Confirmation of their account number
– Period of your client banking relationship with your
good bank
– Confirmation as sending bank / account holding bank.

Page 9 of 18
Receipts on account of sale of share under Employee stock option

Information Required SWIFT Format Requirement

• Purpose of Payment (e.g. “Exercise of rights to purchase Line 1: /PURPOSE OF PAYMENT

ESOP” or “Purchase of ESOP”) Line 2: /REM CITIZEN<COUNTRY>
Line 3: /BENE CONTACT<NAME> <TEL. NO.>, <EMAIL>
• Remitter should always be an individual (Continue text on the following line if needed)

• Citizenship of the remitter Example: Field 70

– Pakistani Citizens are not permitted for this payment type
– Citizens of Bangladesh need prior FIPB (Foreign
Investment Promotion Board) approval
• Payment Beneficiary Contact Details (The company issuing
the ESOP): Name, Telephone Number, and Email Address
Line 1: /EXERCISE OF RIGHTS TO PURCHASE ESOP
Line 2: /REM CITIZEN UK
Line 3: /BENE CONTACT ASHOK PATEL +912222
Line 4: /222222 ASHOK.PATEL(AT)XYZ.COM

• A Declaration letter may be requested from the investee

company, so please ensure the payment beneficiary has this
in place before submitting your payment.

Long & medium terms loans with original maturity above 1 year from non-resident to India (External Commercial Borrowings)

Information Required SWIFT Format Requirement

• Purpose of Payment (e.g. “Towards ECB drawdown” Line 1: /PURPOSE OF PAYMENT

or “ECB extended by SMITH PLC UK”)
• LRN (Loan Registration Number) which is issued by the
RBI (Reserve Bank of India) to the borrower when they apply
for authorisation via Form 83
• The Payment Remitter is usually an entity. However, the
remitter can be an individual only where the beneficiary
is a NGO in the area of Micro Finance and companies
registered under section 25 of the Company Act 1956
and engaged in Micro Finance.
Line 2: /LRN number as issued by RBI <XXXXXX>
Line 3: /BENE CONTACT <NAME> <TEL. NO.> <EMAIL>
(Continue text on the following line if needed)
Example: Field 70
Line 1: /TOWARDS ECB DRAWDOWN
Line 2: /LRN NO XXXXXX
Line 3: /BENE CONTACT ASHOK PATEL +912222
Line 4: /222222, ASHOK.PATEL(AT)XYZ.COM

• Payment Beneficiary Contact Details: Name, Telephone

Number, and Email Address

• The payment beneficiary may be contacted to provide

further information and confirmation of contact details
for their relationship manager/key account manager
at their Authorised Dealer (AD) bank. The AD bank will have
previous involvement in arranging the ECB and will be
able to intimate or procure a NOC (No Objection Certificate)
from the beneficiary bank.

Page 10 of 18
Inward remittance for maintenance of offices in India

Information Required SWIFT Format Requirement

• Purpose of Payment (Office maintenance and Bene is liaison Line 1: /PURPOSE OF PAYMENT
office/Branch office/Project office) Line 2: /UIN: <XXXXXXX>

• UIN allotted by the RBI (Reserve Bank of India). A UIN is a Example: Field 70
12 digit alpha numeric string. Line 1: /OFFICE MAINTENANCE EXPENSES
Line 2: /UIN: AHLO12345678
Some examples of UIN are AHLO06000001/ BGLO07000207A.
The Branch / Liaison offices established with the Reserve Bank’s
approval will be allotted a Unique Identification Number (UIN)
(www.rbi.org.in/scripts/Fema.aspx)

Compensation of employees

Information Required SWIFT Format Requirement

• Purpose of Payment (e.g. “Salary for month of Jan”, Line 1: /PURPOSE OF PAYMENT
“Remuneration for employee” or “Compensation
for employee”) Example: Field 70
Line 1: /SALARY FOR MONTH OF JAN
• Payment Remitter is always the employer

• Beneficiary is always an individual

• If your payment relates to a service such as consulting,

please refer to the Export of Services category.

Page 11 of 18
Export of Goods - Payments towards exports post shipment– Other than Nepal and Bhutan

Information Required SWIFT Format Requirement

• Purpose of Payment (e.g. “Export payment”) Line 1: /PURPOSE OF PAYMENT

Line 2: /INVOICE REF NO <XXXX>
• This Purpose is used for making payments after the Indian Line 3: /SHIPMENT DATE<XXXX>
exporter has shipped the goods Line 4: /DESCRIPTION OF GOODS/SERVICES

• Invoice Reference Number(s) and Shipment Date Example: Field 70

Line 1: /EXPORT PAYMENT
• Type of goods rendered Line 2: /INVOICE REF NO 123729
Line 3: /SHIPMENT DATE 13MAY15
• Shipment date will always be prior to payment date Line 4: /PURCHASE OF CARS

• Beneficiary full name, address and contact telephone

number are required. Please place the telephone number
within the beneficiary address as the last line. If you have
insufficient space within the payment field, please prioritise
the telephone number, and reduce the beneficiary address
information. As good practice please place “TEL” before
entering the telephone number

• The payment beneficiary may be contacted to provide

additional documentation as evidence to support
the payment transfer such as a copy of the invoice.

Export of Goods – Advance payment towards exports– other than Nepal and Bhutan

Information Required SWIFT Format Requirement

• Purpose of Payment (e.g. “Advance export payment”) Line 1: /PURPOSE OF PAYMENT

Line 2: /INVOICE REF NO <XXXX>
• This purpose is used for making payments prior Line 3: /SHIPMENT DATE< FUTURE DATE>
to the shipment of goods. Line 4: /DESCRIPTION OF GOODS/SERVICES

• Invoice / Purchase Order Reference Number (s) Example: Field 70

and Shipment Date Line 1: /ADVANCE EXPORT PAYMENT
Line 2: /INVOICE REF NO 123729
• The shipment date should always be later than Line 3: /SHIPMENT DATE 13JUL15
the payment date Line 4: /PURCHASE OF CARS

• In the case that the shipment date is not specifically

available, an approximation date as per agreed terms
should be provided

• Type of goods/services rendered

• Beneficiary full name, address and contact telephone

number are required. Please place the telephone number
within the beneficiary address as the last line. If you have
insufficient space within the payment field, please prioritise
the telephone number, and reduce the beneficiary address
information. As good practice please place “TEL” before
entering the telephone number

• The payment beneficiary may be contacted to provide

additional documentation as evidence to support the
payment transfer such as a copy of the invoice.

Page 12 of 18
Export of Services

Information Required SWIFT Format Requirement

Note: The RBI (Reserve Bank of India) has defined a clear list Line 1: /PURPOSE OF PAYMENT
of services which are defined as Export of Services. Please Line 2: /INVOICE/TRANSACTION REF NO <XXXX>
refer to the table below to confirm if your payment falls within Line 3: /INVOICE/TRANSACTION DATE <XXXX>
this category
Example: Field 70
• Purpose of Payment (e.g. “Software consulting services” Line 1: /LEGAL SERVICES
or “Legal Services”) Line 2: /INVOICE REF NO 1233456
Line 3: /INVOICE DATE 13/05/2015
• Invoice/Transaction Reference Number(s)

• Invoice/Transaction Date

• Beneficiary full name, address and contact telephone

number are required. Please place the telephone number
within the beneficiary address as the last line. If you have
insufficient space within the payment field, please prioritise
the telephone number, and reduce the beneficiary address
information. As good practice please place “TEL” before
entering the telephone number

• The payment beneficiary may be contacted to provide

additional documentation as evidence to support the
payment transfer such as a copy of the invoice

Page 13 of 18
Export of Service Payments
The following payment types are categorised as Export of Service payments by the local regulations in India and payments must follow
the Export payment formatting covered in the above table.

Sector Sub-Sectors Examples

Business Services
• Professional services Legal services
• Accounting , auditing and bookkeeping services
• Taxation services
• Architectural services
• Engineering services
• Integrated engineering services
• Urban planning and landscape architectural services
• Medical and dental services
• Veterinary services
• Services provided by midwives, nurses, physiotherapists
and paramedical personnel
• Others

Computer and related services • Consultancy services related to the installation

of computer hardware
• Software Implementation services
• Data processing services
• Database services
• Others

Research and development services • R&D services on natural sciences

• R&D services on social sciences and humanities
• Interdisciplinary R&D services

Real estate services • Involving own or leased property

• On a free or contract basis

Rental/Leasing services • Relating to ships

without operators • Relating to aircraft
• Relating to other transport equipment
• Relating to other machinery and equipment
• Others

Rental/Leasing services • Advertising services

without operators • Market research and public opinion polling services
• Management consulting service
• Services related to management consulting
• Technical testing and analysis services
• Services incidental to agricultural, hunting and forestry
• Services incidental to fishing
• Services incidental to mining
• Services incidental to manufacturing
• Services incidental to energy distribution
• Placement and supply services of personnel
• Investigation and security
• Related scientific and technical consulting services
• Maintenance and repair of equipment (not including
maritime vessels, aircraft or other transport equipment)
• Building cleaning services
• Photographic services
• Packaging services
• Printing, publishing
• Convention services
• Others
Page 14 of 18
 Sector Sub-Sectors Examples

Communication Services Postal services

Courier services

Telecommunication services • Voice telephone services

• Packet-switched data transmission services
• Circuit-switched data transmission services
• Telex services
• Telegraph services
• Facsimile services
• Private leased circuit services
• Electronic mail
• Voice mail
• On-line information and data base retrieval
• Electronic data interchange (EDI)
• Enhanced/value-added facsimile services including store
and forward, store and retrieve
• Code and protocol conversion
• On-line information and/or data processing
(including transaction processing)
• Others

Audio-visual services • Motion picture and video tape production and

distribution service
• Motion picture projection service
• Radio and television services
• Radio and television transmission services
• Sound recording
• Others

Others

Construction General Construction work for building

And Related
Engineering Services General Construction work for Civil Engineering

Installation and assembly work

Building completion and finishing work

Rental/Leasing services without operators

Distribution Services Commission agents’ services

Wholesale trade services

Retailing services

Franchising

Others

Educational Services Primary education services

Secondary education services

Higher education services

Adult education

Other educational services

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 Sector Sub-Sectors Examples

Environmental Services Sewage services

Refuse disposal services

Sanitation and similar services

Others

Financial Services All Insurance and • Life, accident and health insurance services
Insurance-related services • Non-life insurance services
• Reinsurance and retrocession
• Services auxiliary to insurance
(including brokering and agency services)

Banking and other Financial Services •

Acceptance of deposits and other repayable funds from
(excluding insurance)
the public
•
Lending of all types, including consumer credit, mortgage
credit, factoring and financing of commercial transaction
Financial leasing •
•
All payment and money transmission services
Guarantees and commitments •
•
Trading for own account or for account of consumer,
whether on an exchange, in an over-the-counter market
or otherwise, the following:
– Money market instruments
(cheques, bills, certificates of deposits, etc.)
– Derivative products including but not limited to
futures and options
– Exchange rate and interest rate instruments including
products such as Swaps, forward rate agreements etc.,
transferable securities
– Other negotiable instruments and financial assets
including bullion
• Participation in issue of all kinds of securities, including
under writing and placement as agent (whether publicly
or privately) and provision of service related to such issues
• Money binding
• Asset management, such as cash or portfolio management,
all forms of collective investment management, pension
fund management, custodial depository and trust services
• Settlement and clearing services for financial assets,
including securities, derivative products and other
negotiable instruments
• Advisory and other auxiliary financial services on all the
activities listed in article 1B of MTN.TNC/W/50, including
credit reference and analysis, investment and portfolio
research and advise, on acquisitions and own corporate
restructuring and strategy
• Provision and transfer of financial information and financial
data processing and related software by

Other

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 Sector Sub-Sectors Examples

Health-Related Hospital services
And Social Services
(Not Listed Previously) Other human health services

Social services

Other

Tourism And Hotels and Restaurants (including catering)

Travel-Related Services
Travel agencies and tour operators services

Tourist guides services

Others

Recreational, Cultural Entertainment services (including theatre, live bands and circus services)
And Sporting Services
(Other Than Audio- New agency services
Visual Services)
Libraries, archives, museums and other cultural services

Sporting and other recreational services

Others

Transport Services Maritime Transport Services • Passenger transportation

• Freight transportation
• Rental of vessels with crew
• Maintenance and repair of vessels
• Pushing and towing services
• Supporting services for maritime transport

Internal waterways transport • Passenger transportation

• Freight transportation
• Rental of vessels with crew
• Maintenance and towing services
• Supporting services for internal waterways transport

Air transport services • Passenger transportation

• Freight transportation
• Rental of aircraft with crew
• Maintenance and repair of aircraft
• Supporting services for air transport

Space Transport

Rail Transport Services • Passenger transportation

• Freight transportation
• Pushing and towing services
• Maintenance and repair of rail transport equipment
• Supporting services for rail transport services

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 Sector Sub-Sectors Examples

Road Transport Services • Passenger transportation
• Freight transportation
• Rental of Commercial vehicles with operator
• Maintenance and repair of road transport equipment
• Supporting services for road transport services

Pipeline Transport • Transportation of fuels

• Transportation of other goods

Services Auxiliary To All Modes • Cargo-handling services

Of Transport • Storage and warehouse services
• Freight transport agency services
• Others

Reference
• Relatives” - Extract of Section 6 of the Companies Act, 1956 defines a “relative” as;
“a person shall be deemed to be a relative of another if, and only if –
– they are members of a Hindu undivided family; or
– they are husband and wife; or
– they are related to the other in the following manner; Father, Mother (including step-mother), Son (including step-son),
Son’s wife, Daughter (including step-daughter), Father’s father, Father’s mother, Mother’s mother, Mother’s father, Son’s son,
Son’s son’s wife, Son’s daughter, Son’s daughter’s husband, Daughter’s husband, Daughter’s son, Daughter’s son’s wife,
Daughter’s daughter, Daughter’s daughter’s husband, Brother (including step-brother), Brother’s wife, Sister (including step
sister), Sister’s husband”
• ECBs (External Commercial Borrowing) refer to commercial loans in the form of bank loans, securitized instruments
(e.g. floating rate notes and fixed rate bonds, non-convertible, optionally convertible or partially convertible preference shares),
buyers’ credit, suppliers’ credit availed of from non-resident lenders with a minimum average maturity of 3 years.
• NOC – No Objection Certificate
• NRI – Non-Resident Indian
• NRO – (Non-resident Ordinary Rupee account)
• NRSR – (Non-resident Special Rupee account)
• OCI – Overseas Citizen of India
• PIO – Person of Indian Origin

The information in this guide is correct at June2015. It is intended as a general guide only. We recommend you obtain your own independent tax and legal advice tailored to your
individual circumstances.
You must ensure that both you and the person receiving the payment comply with any local and international laws in relation to the payment, including regulatory restrictions, exchange
controls and tax obligations. You have sole responsibility for the management of your legal obligations and tax affairs, including making any applicable filings and payments and complying
with any applicable laws and regulations, including in relation to taxation.
Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority
and the Prudential Regulation Authority. Registered Number is 1026167 and its registered office is 1 Churchill Place, London E14 5HP. Item Ref: BM408200. June 2015.

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