eBRC
Purpose codes  /  Group 07

Financial Services purpose codes

Group 07 of RBI’s receipt purpose codes, Financial Services, carries 3 codes. Receipts for bank charges, investment banking, and custodial, depository and other auxiliary financial services.

Group 073 codesRBI receipt purposes

Every code in group 07

CodeRBI wordingeBRC on DGFT
P0701Financial intermediation except investment banking, Bank charges, collection charges, LC charges, etc.Service export, not named
P0702Investment banking, brokerage, under writing commission etc.Service export, not named
P0703Auxiliary services, charges on operation & regulatory fees, custodial services, depository services etc.Service export, not named

Where the wording and the rules come from

The wording in the table is RBI’s, from the receipt purpose list in Annex I to A.P. (DIR Series) Circular No. 84 dated 29 February 2012, the list Authorised Dealer banks report foreign exchange receipts against. The eBRC column is DGFT’s, from its General Guidelines for Generating eBRC (last updated 26 March 2024), and each code’s page quotes the rule behind its entry. How the purpose code is checked when a remittance is mapped is in RBI purpose codes on your eBRC.

RBI's receipt purpose list carries 3 codes in group 07: P0701, P0702, P0703. Receipts for bank charges, investment banking, and custodial, depository and other auxiliary financial services.

DGFT's guidelines do not name P0701. They say that for a service export the exporter can attach only invoices whose SAC code matches the description of the service, and that no two purpose codes may be clubbed in one eBRC except with P0103. So where P0701 is the right description of a service you exported, the eBRC is generated with P0701 on its own, or clubbed with P0103, against an invoice whose SAC code matches that service. The same holds for every code in group 07; each code's page on ebrc.in states the rule that applies.

The AD bank that receives the payment. It reports the remittance to the RBI with the code that describes it, and that report is the IRM the eBRC is generated from. A code that looks wrong is corrected through the bank.

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