P0106 Purpose Code: Overdue export bills converted from NPD to collection

P0106 is the RBI purpose code for: Conversion of overdue export bills from NPD to collection mode. It sits in group 01, Exports (of Goods), of the receipt purposes RBI uses to classify foreign exchange coming into India.

P0106 at a glance

Can a P0106 remittance become an eBRC?

P0106 does not appear in RBI's receipt purpose list of A.P. (DIR Series) Circular No. 84 dated 29 February 2012, the list Authorised Dealer banks report against, and DGFT's eBRC guidelines do not name it. A remittance reported today will carry one of the group 01 codes that list does contain.

The rule is DGFT’s, from its General Guidelines for Generating eBRC (last updated 26 March 2024). The full list, and what each rule means when you map remittances, is in how to generate an eBRC on the DGFT portal.

What this code says about the money

A purpose code is your bank speaking, not you. When a foreign payment reaches your account, the AD bank reports it with a purpose code that states the RBI classification of the transaction, and that report is the Inward Remittance Message, the IRM. A remittance carrying P0106 has been classified as: Conversion of overdue export bills from NPD to collection mode.

In FETERS reporting

FETERS is the Foreign Exchange Transactions Electronic Reporting System, the system under which Authorised Dealer banks report their foreign exchange transactions to the RBI, and its receipt purpose list is where P0106 is defined. The eBRC API annexure describes P0106 as: Conversion of overdue export bills from NPD to collection mode. The list RBI published in A.P. (DIR Series) Circular No. 84 dated 29 February 2012 does not carry P0106, so for a remittance reported today, ask the AD bank which code it used.

Whatever the code, the proceeds of a goods export have to be realised within the period FEMA sets, and the export realisation period guide gives the period in force and the date it runs from.

P0106 or a neighbouring code

The codes below are the ones most easily confused with P0106. The difference is in RBI’s wording, so the table quotes it, with what DGFT allows for each.

If the code on your remittance looks wrong

The code is attached at reporting time by the bank, so the fix runs through the bank, not through DGFT. Ask the AD branch that received the payment to confirm the classification; an amended report shows up as a revised IRM. What each IRM status means, and what you can do with a remittance in each state, is in the IRM explainer, and the errors DGFT returns when a code does not fit the filing are in IRM mapping errors on DGFT. Exporters who agree the purpose code with their buyer's bank once, at onboarding, rarely meet this page twice.

Other codes in group 01

• P0101Export bills negotiated, purchased or discountedNo, DGFT excludes it
• P0102Realisation of export bills sent on collectionYes, goods export
• P0103Advance receipts against export contractsYes, alone or clubbed
• P0104Intermediary or transit trade receiptsYes, goods export
• P0105Export bills sent on collectionDiscontinued by RBI
• P0107Realisation of NPD export billsDiscontinued by RBI
• P0108Merchanting trade, export legNo, DGFT excludes it
• P0109Exports to Nepal and BhutanYes, goods export

All 9 Exports (of Goods) purpose codes