Which purpose codes are in group 06, Insurance and Pension?

RBI's receipt purpose list carries 10 codes in group 06: P0601, P0602, P0603, P0605, P0607, P0608, P0609, P0610, P0611, P0612. Receipts of insurance premiums, claims, auxiliary insurance services, pension and standardised guarantee payments.

Can a remittance under a group 06 code become an eBRC?

DGFT's guidelines do not name P0601. 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 P0601 is the right description of a service you exported, the eBRC is generated with P0601 on its own, or clubbed with P0103, against an invoice whose SAC code matches that service. The same holds for every code in group 06; each code's page on ebrc.in states the rule that applies.

Who chooses the group 06 purpose code on a remittance?

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.

Insurance and Pension purpose codes

Group 06 of RBI’s receipt purpose codes, Insurance and Pension Services, carries 10 codes. Receipts of insurance premiums, claims, auxiliary insurance services, pension and standardised guarantee payments.

Group 0610 codesRBI receipt purposes

Every code in group 06

Code	RBI wording	eBRC on DGFT
P0601	Life Insurance premium except term insurance	Service export, not named
P0602	Freight insurance, relating to import & export of goods	Service export, not named
P0603	Other general insurance premium including reinsurance premium; and term life insurance premium	Service export, not named
P0605	Auxiliary services including commission on insurance	Service export, not named
P0607	Insurance claim Settlement of non-life insurance; and life insurance (only term insurance)	Service export, not named
P0608	Life insurance claim settlements (excluding term insurance) received by residents in India	Service export, not named
P0609	Standardised guarantee services	Service export, not named
P0610	Premium for pension funds	Service export, not named
P0611	Periodic pension entitlements e.g. monthly quarterly or yearly payments of pension amounts by Indian Pension Fund Companies.	Service export, not named
P0612	Invoking of standardised guarantees	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.

Insurance and Pension purpose codes

Every code in group 06

Where the wording and the rules come from

Other groups

The code arrives with the money. So can the certificate.