REMITTANCE FACILITIES IN FOREIGN CURRENCY

Foreign Inward Remittance through SWIFT:

Resident Individuals, Firms & Companies can freely receive Foreign Inward Remittances through normal banking channels, either for settlement of their trade transactions or clean remittances towards savings/personal/investment purposes.

Non-Resident Indians can approach their Bank abroad with the details of remittance and ask them to remit the funds to us, through any of our below mentioned Correspondent Banks across the world, for credit to either their or their beneficiary's account or open a Rupee account i.e., NRO/NRE or a FCNR (B) Deposit as required.

For transferring Funds from foreign country through our Nostro Accounts with the Correspondent Banks listed below, the remitter is required to approach their banker with the following details:

1)    Correspondent Bank Name, Swift Code & our Nostro A/c number for the respective currency. (For Example: J P Morgan Chase, New York, CHASUS33 & 001 1 395969- for USD)

2)    Canara Bank’s Swift Code “CNRBINBBBFD”

Please Note: There is no separate SWIFT code for our individual branches. The above-mentioned Canara Bank’s Swift code can be used for remitting funds to our branches anywhere in India.

3)    Beneficiary Name, Canara Bank A/c No. & Branch.

4)     Purpose of remittance:______________ (In absence of Valid Purpose Code, the bank reserves the right to put the remittance on hold and/or return the funds back to the remitter)

Features and Benefits:

  • Simple & Secured Way of remitting funds.
  • Remittances upto USD 10,000 or equivalent processed immediately, unless otherwise specified.
  • Inward Remittances is accepted in 11 currencies namely AED, AUD, CAD, CHF, EUR, GBP, HKD, JPY, SEK, SGD, USD.
  • Convenient channel for creating FCNR deposits
  •  

    SWIFT MT103 Transfer Format

     

    Below are the details of the fields to be updated for MT103 inward remittance-

    F32

    CURRENCY/AMOUNT

    Amount and the currency in which the remittance is to be received

     

    F50

    ORIGINATOR

    Sender’s details will be filled in by the Sender Bank

    F56A

    INTERMEDIARY INSTITUTION*

    Based on the currency of the remittance, one of the Nostro accounts maintained by Canara in different currencies may be specified here. Details of the accounts are given in Annexure-I

     

    Name of the Correspondent bank-

    SWIFT Code-

     

    F57A

    ACCOUNT WITH INSTITUTION

    CANARA BANK

    INTEGRATED TREASURY WING

    MUMBAI, INDIA

    SWIFT : CNRBINBBBFD

     

    F59

    BENEFICIARY

    The following details of the Beneficiary may be provided-

    Account Number#-

    For opening New FCNR Accounts- Mention Account Number as#-

     

         FCNR (NRE/NRO Account No) or

        (NRE/NRO Account No)FCNR

     

    (i.e. beneficiary NRE/NRO Account Number with prefix/suffix ‘FCNR’)

     

    Name-

    Address-

    Canara Bank branch Name -

    F70/72

    REMITTANCE INFO FIELD

    Please mention Purpose of Remittance/Disposal Instruction and the Purpose Code:

     

    1.    Book FCNR deposit for a tenor of ___ (years) in ___ Currency (Currency Options- USD, GBP, EUR, CAD, AUD), or

    2.    Book INR NRE/NRO fixed deposit for ___ year(s) under, or

    3.    Credit INR to Savings Bank Account No ___

     

    Purpose Code(Mandatory): _____

    *Field 56A is an optional field. Even if no intermediary institution details are provided, the remittance will still be processed.

    A. USD –

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    JP MORGAN CHASE BANK, NEW YORK

    CHASUS33

    2

    BANK OF AMERICA, NEW YORK

    BOFAUS3N

    3

    CITIBANK, NEW YORK

    CITIUS33

    4

    WELLS FARGO BANK NA

    PNBPUS3NNYC

    5

    THE BANK OF NEW YORK MELLON

    IRVTUS3N

    6

    STANDARD CHARTERED BANK, NEW YORK

    SCBLUS33

    7

    HSBC BANK USA NA

    MRMDUS33


    B. EUR –

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    COMMERZBANK, FRANKFURT

    COBADEFF

    2

    STANDARD CHARTERED BANK, FRANKFURT

    SCBLDEFX

    3

    BARCLAYS BANK IRELAND PLC, FRANKFURT

    BARCDEFF

    4

    HSBC CONTINENTAL EUROPE, FRANCE

    CCFRFRPP


    C. GBP-

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    CANARA BANK, LONDON

    CNRBGB2L

    2

    BARCLAYS BANK, LONDON

    BARCGB22

    3

    HSBC BANK PLC, LONDON

    MIDLGB22


    D. CHF –

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    ZURCHER KANTONALBANK, ZURICH

    ZKBKCHZZ80A


    E. CAD –

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    BANK OF MONTREAL, MONTREAL

    BOFMCAM2


    F. SEK –

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    SKANDINAVISKA ENSKILDA BANKEN,

    STOCKHOLM

    ESSESESS


    G. AUD

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    ANZ BANKING GROUP, MELBOURNE

    ANZBAU3M


    H. SGD

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    OCBC, SINGAPORE

    OCBCSGSG


    I. JPY

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    BANK OF AMERICA, TOKYO

    BOFAJPJX

    2

    SMBC, JAPAN

    SMBCJPJT


    J. AED

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    MASHREQ BANK PSC, DUBAI

    BOMLAEAD


    K. HKD

    S.No

    Name of the Correspondent Bank

    SWIFT Code

    1

    STANDARD CHARTERED BANK, HONG KONG

    SCBLHKHH


    LIST OF OUR CORRESPONDENT BANKS

    SR NO

    CURRENCY

    Account maintained with

    Account Number

    SWIFT Code

    1

    USD

    J P MORGAN CHASE NEW YORK

    001 1 395969

    CHASUS33

    2

    USD

    BANK OF AMERICA, NEW YORK

    6550791917

    BOFAUS3N

    3

    USD

    CITIBANK, NEW YORK

    36053796

    CITIUS33

    4

    USD

    WELLS FARGO BANK N.A.

    2000193007934

    PNBPUS3NNYC

    5

    USD

    THE BANK OF NEW YORK MELLON, NEW YORK

    8900033355

    IRVTUS3N

    6

    USD

    STANDARD CHARTERED BANK, NEW YORK

    3582050114001

    SCBLUS33

    7

    USD

    HSBC BANK USA NA

    000032581

    MRMDUS33

    8

    EUR

    COMMERZBANK, FRANKFURT

    400875020001

    COBADEFF

    9

    EUR

    STANDARD CHARTERED BANK, FRANKFURT

    500057705

    SCBLDEFX

    10

    EUR

    BARCLAYS BANK IRELAND Plc, FRANKFURT, GERMANY

    DE0210162100

    BARCDEFF

    11

    EUR

    HSBC CONTINENTAL EUROPE, FRANCE

    300560082908290000041

    CCFRFRPP

    12

    GBP

    CANARA BANK, LONDON

    0001120001001

    CNRBGB2L

    13

    GBP

    BARCLAYS BANK, LONDON, UK

    03879453

    BARCGB22

    14

    GBP

    HSBC BANK PLC

    00262731

    MIDLGB22

    15

    CHF

    ZURCHER KANTONALBANK, ZURICH

    CH8600700070001456393

    ZKBKCHZZ80A

    16

    CAD

    BANK OF MONTREAL, MONTREAL

    31691035502

    BOFMCAM2

    17

    SEK

    SKANDINAVISKA ENSKILDA BANKEN, STOCKHOLM

    52018528297

    ESSESESS

    18

    AUD

    ANZ BANKING GROUP MELBOURNE

    212894/00001

    ANZBAU3M

    19

    SGD

    OCBC, SINGAPORE

    501071575001

    OCBCSGSG

    20

    JPY

    BANK OF AMERICA, TOKYO

    606418411019

    BOFAJPJX

    21

    JPY

    SUMITOMO MITSUI BANKING CORPORATION (SMBC), JAPAN

    5398

    SMBCJPJT

    22

    AED

    MASHREQ BANK PSC, DUBAI

    019030000133

    BOMLAEAD

    23

    HKD

    STANDARD CHARTERED BANK HONG KONG

    44709401232

    SCBLHKHH


    LIST OF PURPOSE CODES

    Gr.
    No.

    Purpose Group Name

    Purpose Code

    Description

    00

    Capital Account

    P0017

    Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks etc., land acquired by government, use of natural resources) – Government

    P0019

    Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks etc., use of natural resources) – Non-Government

    P0028

    Capital transfer receipts (Guarantee payments, Investment Grant given by the government/international organisation, exceptionally large Non-life insurance claims including claims arising out of natural calamity) - Government

    P0029

    Capital transfer receipts (Guarantee payments, Investment Grant given by the Non-government, exceptionally large Non-life insurance claims including claims arising out of natural calamity) – Non-Government

    P0099

    Other capital receipts not included elsewhere

    Financial Account

     

    Foreign Direct Investment

    P0003

    Repatriation of Indian Direct investment abroad (by branches &
    wholly owned subsidiaries and associates) in equity shares

    P0004

    Repatriation Indian Direct investment abroad (by branches & wholly owned subsidiaries and associates) in debt instruments

    P0005

    Repatriation of Indian investment abroad in real estate

    P0006

    Foreign Direct Investment made by overseas Investors in India in equity shares

    P0007

    Foreign Direct Investment made by overseas Investors in India in debt instruments.

    P0008

    Foreign Direct Investment made by overseas Investors  in India in real estate

    Foreign Portfolio Investment

    P0001

    Repatriation of Indian Portfolio investment abroad in equity capital (shares)

    P0002

    Repatriation of Indian Portfolio investment abroad in debt instruments.

    P0009

    Foreign Portfolio Investment made by overseas Investors in India in
    equity shares

    P0010

    Foreign Portfolio Investment made by overseas Investors in India in debt Instruments.

    External Commercial Borrowings

    P0011

    Repayment of loans extended to Non-Residents

    P0012

    Long & medium term loans, with original maturity of above oneyear, from Non-Residents to India (External Commercial Borrowings)

    Short term credits

    P0013

    Short term loans with original maturity upto one year from Non- Residents to India (Short-term TradeCredit)

     

    Banking Capital

    P0014

    Receipts o/a Non-Resident depositsFCNR(B)/NR(E)RA, etc.)
    {ADs should report these even if funds are not “swapped” into Rupees}

    P0015

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

    P0016

    Purchase of a foreign currency against another currency.

    Financial Derivatives and Others

    P0020

    Receipts on  account  of  margin  payments,  premium  payment  and settlement amount etc. under Financial derivative transactions

    P0021

    Receipts on account of sale of share under Employee stock option

    P0022

    Receipts on account of other investment in ADRs/GDRs

    External Assistance

    P0024

    External Assistance received by India e.g.  Multilateral and bilateral loans received by Govt.  of India under agreements with other govt. / international institutions.

    P0025

    Repayments received on account of External Assistance extendedby India

    01

    Exports (of Goods)

    P0101

    Value of export bills negotiated / purchased/discounted etc.
    (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.) – Other than Nepal and Bhutan

    P0102

    Realisation of export bills (in respect of goods) sent on collection (full invoice value) – Other than Nepal and Bhutan

    P0103

    Advance receipts against export contracts, which will be coveredlater by GR/PP/SOFTEX/SDF – other than Nepal and Bhutan

    P0104

    Receipts against export of goods not covered by the GR /PP/SOFTEX  /EC copy of shipping bill etc. (under Intermediary/transit trade, i.e., third country export passing through India

    P0105

    Export bills (in respect of goods) sent on collection – other than Nepal and Bhutan

    P0107

    Realisation of NPD export bills (full value of bill to be reported) – other than Nepal and Bhutan

    P0108

    Goods sold under merchanting / Receipt against export leg of merchanting trade

    P0109

    Export realisation on account of exports to Nepal and Bhutan, if any

    02

    Transport

    P0201

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

     

     

    P0202

    Receipts on account of operating expenses of Foreign shipping
    companies operating in India

     

     

    P0205

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

     

     

    P0207

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

     

     

    P0208

    Receipt on account of operating expenses of Foreign Airlines companies operating in India

     

     

    P0211

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

     

     

    P0214

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

    P0215

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

    P0216

    Receipts of freight fare -Shipping companies operating abroad

    P0217

    Receipts of passenger fare by Indian Shipping companies operating abroad

    P0218

    Other receipts by Shipping companies

    P0219

    Receipts of freight fare by Indian Airlines  companies operating
    abroad

    P0220

    Receipts of passenger fare –Airlines

    P0221

    Other receipts by Airlines companies

    P0222

    Receipts on account of freights under other modes of transport (Internal Waterways, Roadways, Railways, Pipeline transports and
    Others)

    P0223

    Receipts on account of passenger fare under other modes of transport (Internal Waterways, Roadways, Railways, Pipeline
    transports and Others)

    P0224

    Postal & Courier services by Air

    P0225

    Postal & Courier services by Sea

    P0226

    Postal & Courier services by others

    03

    Travel

    P0301

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

    P0302

    Business travel

    P0304

    Travel for medical treatment including TCs purchased by hospitals

    P0305

    Travel for education including TCs purchased by educational
    institutions

    P0306

    Other travel receipts

    P0308

    Foreign Currencies/TCs surrendered by returning Indian tourists.

    05

    Construction Services

    P0501

    Receipts on account of services relating to  cost of construction of
    projects in India

    P0502

    Receipts on account of construction works carried out abroad by
    Indian Companies

    06

    Insurance and Pension Services

    P0601

    Life Insurance premium except term insurance

    P0602

    Freight insurance – relating to import & export of goods

    P0603

    Other general insurance premium including reinsurance premium; and term life insurance premium

    P0605

    Auxiliary services including commission on insurance

    P0607

    Insurance claim Settlement of non-life insurance; and life insurance (only term insurance)

    P0608

    Life insurance claim settlements (excluding term insurance) received by residents in India

    P0609

    Standardised guarantee services

    P0610

    Premium for pension funds

     

     

    P0611

    Periodic pension entitlements e.g. monthly quarterly or yearly payments of pension amounts by Indian Pension Fund Companies.

    P0612

    Invoking of standardised guarantees

    07

    Financial Services

    P0701

    Financial intermediation except investment banking – Bank charges,
    collection charges, LC charges, etc.

    P0702

    Investment banking – brokerage, under writing commission etc.

    P0703

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

    08

    Telecommunication, Computer & Information Services

    P0801

    Hardware consultancy/implementation

    P0802

    Software consultancy/implementation (other than those covered in
    SOFTEX form)

    P0803

    Data base, data processing charges

    P0804

    Repair and maintenance of computer and software

    P0805

    News agency services

    P0806

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

    P0807

    Off-site Software Exports

    P0808

    Telecommunication services including electronic mail services and voice mail services

    P0809

    Satellite services including space shuttle and rockets, etc.

    09

    Charges for the use of intellectual property n.i.e

    P0901

    Franchises services

    P0902

    Receipts  for  use,  through  licensing  arrangements,  of  produced originals  or  prototypes  (such  as  manuscripts  and  films),  patents, copyrights, trademarks, industrial processes, franchises etc.

    10

    Other Business Services

    P1002

    Trade related services – commission on exports / imports

    P1003

    Operational leasing services (other than financial leasing) without operating crew, including charter hire- Airlines companies

    P1004

    Legal services

    P1005

    Accounting, auditing, book keeping services

    P1006

    Business and management consultancy and public relations services

    P1007

    Advertising, trade fair service

    P1008

    Research & Development services

    P1009

    Architectural services

    P1010

    Agricultural services like protection against insects & disease,
    increasing of harvest yields, forestry services.

    P1011

    Inward remittance for maintenance of offices in India

    P1013

    Environmental Services

    P1014

    Engineering Services

    P1015

    Tax consulting services

    P1016

    Market research and public opinion polling service

    P1017

    Publishing and printing services

    P1018

    Mining services like on–site processing services analysis of ores etc.

    P1019

    Commission agent services

    P1020

    Wholesale and retailing trade services.

    P1021

    Operational leasing services (other  thanfinancial  leasing)  without operating crew, includingcharter hire- Shipping  companies

     

     

    P1022

    Other Technical Services including scientific/space services.

    P1099

    Other services not included elsewhere

    11

    Personal, Cultural & Recreational services

    P1101

    Audio-visual and related services like Motion picture and video tape production, distribution and projection services.

    P1103

    Radio and television production, distribution and transmission services

    P1104

    Entertainment services

    P1105

    Museums, library and archival services

    P1106

    Recreation and sporting activity services

    P1107

    Educational services (e.g. fees received for correspondence courses offered to non-resident by Indian institutions)

    P1108

    Health Service (Receipts on account of services provided by Indian
    hospitals, doctors, nurses, paramedical and similar services etc. rendered remotely or on-site)

    P1109

    Other  Personal, Cultural & Recreational services

    12

    Govt. not included elsewhere
    (G.n.i.e.)

    P1201

    Maintenance of foreign embassies in India

    P1203

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

    13

    Secondary Income

    P1301

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

    P1302

    Personal gifts and donations

    P1303

    Donations to religious and charitable institutions in India

    P1304

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

    P1306

    Receipts / Refund of taxes

    P1307

    Receipts on account of migrant transfers  including  Personal Effects

    14

    Primary Income

    P1401

    Compensation of employees

    P1403

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

    P1405

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

    P1408

    Inward remittance of profit by branches of Indian FDI Enterprises
    (including bank branches) operating abroad.

    P1409

    Inward remittance of dividends (on equity and investment fund shares) by Indian FDI Enterprises, other than branches, operating
    abroad

    P1410

    Inward remittance on account of interest payment by Indian FDI
    enterprises operating abroad to their Parent company in India.

    P1411

    Inward remittance of interest income on account of Portfolio
    Investment made abroad by India

    P1412

    Inward remittance of dividends on account of Portfolio Investment
    made abroad by India on equity and investment fund shares

    P1499

    Other income receipts

    15

    Others

    P1501

    Refunds / rebates on account of imports

    P1502

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

    P1503

    Remittances (receipts) by residents under international bidding
    process.

    P1505

    Deemed Exports (exports between SEZ, EPZs and Domestic Tariff
    Areas)

    16

    Maintenance and repair services n.i.e

    P1601

    Receipts on account of maintenance and repair services rendered for Vessels, Ships, Boats, Warships, etc.

    P1602

    Receipts of maintenance and repair services rendered for aircrafts, Space shuttles, Rockets, military aircrafts, etc.

    17

    Manufacturing services

    P1701

    Receipts on account of processing of goods


    DETAILS OF BANKS MAINTAINING INR ACCOUNT WITH OUR BANK
    REMITTANCE FACILITIES IN INR

    S.No

     Bank

    Country

    1

    Al Salam Bank Bahrain BSC

    Bahrain

    2

    National Bank of Bahrain BSC

    3

    Commerzbank AG

    Germany

    4

    Industrial Bank of Kuwait

    Kuwait

    5

    Kuwait Finance House

    6

    National Bank of Oman

    Oman

    7

    Al Rajhi Bank

     

    Saudi Arabia

    8

    Arab National Bank

    9

    Bank Al Bilad

    10

    The National Bank of Ras Al Khaimah (RAK Bank)

     

    UAE

    11

    United Arab Bank

    12

    United Bank Limited

    13

    Canara Bank London

    UK

    14

    HBL Bank UK Limited

    15

    Habib Bank Zurich Hong Kong Limited

    Hong Kong