2026 RBI Purpose Code Guide

The RBI Purpose Code is mandatory for reporting outward remittances from India. Whether you're making import payments, paying overseas suppliers, transferring money abroad, paying university fees, booking foreign travel, or remitting business payments, banks and AD-II licensed forex providers require the correct purpose code.

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What is an RBI Purpose Code?

An RBI Purpose Code is a reporting code used by banks and authorized dealers to classify cross-border transactions under FEMA guidelines. Every outward remittance must be tagged with the correct purpose code to ensure regulatory compliance.

Most Important Import & Business Payment Purpose Codes

Purpose Code Description S0101 Advance payment against imports S0102 Payment towards imports – settlement of invoice S0104 Intermediary trade S0203 Freight on imports – Shipping companies S0209 Freight on imports – Airlines companies S0602 Freight insurance S0802 Software implementation / consultancy S1005 Accounting, auditing and tax consulting S1006 Business & management consultancy S1009 Engineering & technical services S1019 Other business services How Outward Remittance Works

  1. Identify transaction type.
  2. Select RBI purpose code.
  3. Submit documents.
  4. Compliance verification.
  5. Book forex rate.
  6. Transfer funds overseas.
  7. Receive SWIFT confirmation.

Purpose Code Finder

All RBI Purpose Codes

Code Category Description S0001Capital AccountIndian investment abroad in equity shares S0002Capital AccountIndian investment abroad in debt securities S0003Capital AccountIndian investment abroad in branches S0004Capital AccountIndian investment abroad in subsidiaries and associates S0005Capital AccountIndian investment abroad in real estate S0101ImportsAdvance payment against imports S0102ImportsSettlement of import invoices S0103ImportsImports by diplomatic missions S0104ImportsIntermediary trade S0190ImportsImports below ₹5 lakh S0201TransportationForeign shipping company freight payments S0202TransportationOperating expenses of Indian shipping companies abroad S0203TransportationFreight on imports S0204TransportationFreight on exports S0205TransportationOperational leasing with crew S0301TravelBusiness travel S0302TravelBasic Travel Quota S0303TravelPilgrimage travel S0304TravelMedical travel S0305TravelEducation abroad S0401CommunicationPostal services S0402CommunicationCourier services S0403CommunicationTelecommunication services S0404CommunicationSatellite services S0501ConstructionConstruction projects abroad S0502ConstructionConstruction projects by foreign companies in India S0601InsuranceLife insurance premium S0602InsuranceFreight insurance S0603InsuranceGeneral insurance premium S0604InsuranceReinsurance premium S0701Financial ServicesBank charges and collection charges S0702Financial ServicesInvestment banking S0703Financial ServicesCustodial and depository services S0801Computer ServicesHardware consultancy S0802Computer ServicesSoftware implementation / consultancy S0803Computer ServicesData processing S0804Computer ServicesRepair & maintenance of software S0901RoyaltyPatents, trademarks and franchise fees S0902RoyaltyLicensing of originals and prototypes S1004Business ServicesLegal services S1005Business ServicesAccounting & tax consulting S1006Business ServicesManagement consultancy S1007Business ServicesAdvertising & market research S1008Business ServicesResearch & development S1009Business ServicesEngineering services S1019Business ServicesOther business services S1101CulturalAudio visual services S1102CulturalMuseums, libraries, sporting activities S1201GovernmentIndian embassies abroad S1202GovernmentForeign embassies in India S1301TransfersFamily maintenance and savings S1302TransfersPersonal gifts and donations S1303TransfersCharitable donations abroad S1401IncomeCompensation of employees S1406IncomeRepatriation of profits S1407IncomeDividend payments S1501OthersExport refunds and rebates S1502OthersWrong remittance reversals S1503OthersInternational bidding payments S1504OthersCancel export bills How Fire Forex Helps Businesses

  • Import payments
  • Service import payments
  • SWIFT transfers
  • Foreign currency exchange
  • Business outward remittance support
  • Purpose code guidance

Contact Fire Forex for assistance with outward remittance, import payments, and international business transactions.

Frequently Asked Questions

What is the purpose code for import payments?

S0101 is used for advance import payments and S0102 is used for settlement of import invoices.

Which code is used for software payments?

S0802 is generally used for software implementation and consultancy services.

Which purpose code is used for consultancy payments?

S1006 is generally used for business and management consultancy services.

Is a purpose code mandatory?

Yes. Banks and authorized dealers require purpose codes for reporting outward remittances under FEMA regulations.

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