P0502 Purpose Code: Construction
P0502 is the RBI purpose code for: Construction works abroad by Indian companies. It sits in group 05, Construction, of the receipt purposes RBI uses to classify foreign exchange coming into India.
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 P0502 has been classified as: Construction works abroad by Indian companies.
This group sits outside the goods-export family, so a remittance carrying it reads as construction income rather than realisation of an export bill. If a payment you expected to certify as an eBRC arrived under this code, that mismatch is worth resolving with your AD bank before mapping, and the purpose code guide explains the conversation.
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 P0502 is defined. That list, Annex I to A.P. (DIR Series) Circular No. 84 of 29 February 2012, places P0502 in group 05, Construction, and describes it as: Receipts on account of construction works carried out abroad by Indian Companies. That is the wording a bank’s reporting desk works from, so it is the wording to match when you ask the bank what a remittance was reported as.
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. Exporters who agree the purpose code with their buyer's bank once, at onboarding, rarely meet this page twice.