Forex

SECTION D-FOREX

S No

Particulars

Charges

1. EXPORT

1.1

Bill Purchased / Discounted / Negotiated/ Collection / Consignment Exports / Advance Payment Basis (including Export to Warehouse, Merchanting Trade, Deemed Export, Service or Software Export, Regular Export, etc.)

For BL/AWB/PP/PR per Bill lodgement - ₹ 1000 Per Bill Lodgement (Per BL/AWB/PP/PR)           irrespective of bill amount.

₹ 250 Per BL/AWB/PP/PR - 100% Advance Received (IRM/FIRC Value Date Should not be later than the BL/AWB/PP/PR and Shipping Bill date) irrespective of bill amount.

For Courier Receipt / e-commerce:

₹ 250/- per Bill/Invoice for e-commerce & Courier Receipt bills irrespective of bill amount.

*Including e-BRC charges

NOTE: The above rates shall be applicable for maximum up to 5 Shipping Bills. For over and above 5 shipping bills, ₹ 500 per shipping bill will be charged in addition to above charges

1.2

Forwarding Export Documents to Another Bank Due to Reasons such as LC Being Restricted to later or the LC has been Confirmed by that Bank

₹ 1500/- flat per Bill plus out of pocket expenses, if any on actual basis

1.3

Reimbursement charges for all type of Export Bills

₹ 1000/- per claim exclusive of SWIFT(MT742) Charges

1.4

For Joining Customer's Guarantees and Giving Guarantees and For Giving Guarantees / Indemnities on Behalf of Customers to Other Banks in India in Respect of Discrepancies, etc. in Documents Negotiated Under L/C

0.25% of the bill amount with a min of ₹1000/- per bill (Maximum ₹25000/-) plus out of pocket expenses, if any on actual basis.

1.5

Export Bill Overdue Charges

₹500/- per bill per month

(To be recovered from due date on upfront basis)

1.6

Certificates / Attestation Charges in Respect of Export Transactions (Not Specified Elsewhere)

Per certificate/ Invoice

1.7

Additions for Export Transactions

HANDLING OF EXPORT LETTER OF CREDIT

1.8

Advising Charges

₹ 1000/- per LC for our bank’s customer

₹ 2000/- per LC for other bank’s customer

1.9

Amendment charges on Advised Export LC

₹ 500/- per amendment for our customers

₹ 1000/- for other bank’s customers

1.10

Confirmation/Commitment charges on Advised Export LC

a. Commitment Charges

b. Usance Charge

• Bills up to 10 days sight
• Bills over 10 days and up to 3 months
• Bills over 3 months and part thereof

1. Commitment charges from date of adding confirmation till date of expiry of LC @ 0.15% per quarter or part thereof. Min ₹.750/- plus
2. Sight 0.15% flat. Min ₹.1250/-

Usance charges according to tenor of bill @ 0.25% per quarter or part thereof

For both the above minimum commission for one quarter to be recovered Min ₹.2000/-

1.11

Acceptance commission for accepting Usance drafts to be Drawn on or accepted by banks in India.

0.15% p.m. with Min. of ₹ 1500/-

1.12

Foreign Bank Charges (For LC Advising/Amendment where charges are to be recovered from foreign bank)

US $ 75 per LC

1.13

Transfer of Advised Export LC

₹ 1000/- for each transfer

OTHER MISCELLANEOUS CHARGES ON EXPORT BILL

1.14

Approvals

Uniform charges of ₹ 1500/- for all following approvals:

1.15

Non Submission Charges

1.16

Other Charges on Export Bill

*(Per returning plus out of pocket expenses, if any on

   actual basis)

2. IMPORTS

2.1

Import Letter of Credit/ Revolving Letter of Credit /Letter of Credit Covering Imports of Goods on Deferred Terms

Commitment charges also similar to usance charges i.e. part of a month should be construed as a completed month. (charges for the period of liability from the date of opening of credit to the last date of opening of its validity @ 0.25% for every period of 3 months or part thereof with minimum of ₹ 500/-)

*For individual Transactions, concession is to be extended on the incremental value.

NOTE:

The period is to be calculated from the date of opening LC to the last date of its validity + Usance period of bill and part of a month should be construed as a completed month. For sight LC, validity of LC+1 month.

FOR EXAMPLE, If a LC of ₹30.00 crore is to be opened, normal commission up to ₹5.00 crore plus one half of the normal commission for ₹20.00 crore plus one fourth of normal commission on balance ₹5.00 crore.

Postages/Courier charges: ₹ 1000/-

2.2

Amendment in Import Letter of Credit

2.3

Commission on Import Bills - Under L/C

FCY bills at the time of crystallization or retirement whichever is earlier on which bank earns exchange benefit.

• 0.10% per Bill
• Min. : ₹ 1500/-
• Max.: ₹15000/-

b)

FCY import bills received under LC where no Exchange benefit accrues to the Bank.

• 0.15% per Bill
• Min. : ₹ 1500/-
• Max.: ₹25000/-

c)

If bills are not retired within 5 Banking days from the date of receipt of bills in case of demand bills and on the due date in case of Usance bills.

Flat ₹500/- per default.

(including Interest claimed by foreign bank if any)

d)

Discrepancy charges in case of non-confirming documents under LC to be mentioned at the time of LC opening.

• USD/EUR/GBP - 100/-
• JPY - 10000/-
• For other currencies equiv. to USD 100/- (to be recovered from LC negotiating bank / beneficiary)

2.4

Commission On Import Bills – Not Under L/C

On each bill drawn in FCY received by the bank, on which the bank earns exchange benefit.

• 0.10%
• Min.: ₹ 1500/-
• Max.: ₹ 15000/-

On each bill drawn in INR or each bill drawn in FCY on which bank does not earn exchange benefit.

• 0.15%
• Min.: ₹ 1500/-
• Max.: ₹ 20000/-

For Foreign Currency import bill required to be forwarded to another bank required for remitting proceeds to the remitting bank abroad.

Handling charges of ₹ 2000/- per bill plus out of pocket expenses, if any on actual basis

Countersigning / Co-acceptance / Availisation of Import Bills

0.10% p.m. for the tenor of bills subject to a minimum of 0.25%

Custody charges for overdue import bills (To be charged on upfront basis)

₹ 150/- per month or part thereof for each bill, if the bill is not paid within 10 days from the due date / date of presentation.

Returning Charges of Import Bills

₹ 1000/ plus amount claimed by foreign bank plus out of pocket expenses, if any on actual basis.

Follow-up of Pending Bill of Entry/Evidence of Import

₹ 200/- per bill per month to be charged on upfront basis.

NOTE:

Submission of Bill of Entry shall be considered as pending if the Bill of Entry is not submitted within 90 days from the date of Remittance.

Import Transaction (To be recovered manually)

2.5

OTHER MISCELLANEOUS CHARGES

Obtaining opinion/credit report of overseas buyer/seller for our Importer/Exporter from Credit Rating Agencies

Actual paid to outside agency plus out of pocket expenses

Obtaining opinion/credit report of overseas buyer/seller for our Importer/Exporter from Foreign Banks

Actual paid to Foreign Bank plus Swift Charges + processing charges ₹500/-

Providing opinion report to foreign Banks on our customers

USD 100 per opinion report to Foreign Bank

Release order for import, pending receipt of Airway documents

₹1500/- for each release order.

Remittances charges on advance payment for imports (par or full) (Advance remittance charges)

As per Serial Number a) & b) of Para 2.4

3. FOREIGN BANK GUARANTEES

3.1

EXPORT PERFORMANCE GUARANTEE

FOR PROJECT EXPORTS: Which include Bid Bond/ Bond for Earnest Money/ Guarantee for Advance Payment made by Foreign Buyers to Indian Exporters or Contractors/ Export Performance

3.2

Deferred Payment Guarantees Covering Imports of Goods into India/ Repayment of Foreign Currency Loans

0.50% per quarter or part thereof for the specified period of liability calculated on the amount of liability under such guarantee at beginning of every quarter with a minimum of ₹1500/-. Minimum charges for a quarter to be charged.

3.3

Extension of Validity Period/ Enhancement in Value of Guarantee

3.4

All Other Guarantees (incl. SBLC) Not Specified Elsewhere

Subject to Minimum ₹ 1500/- per guarantee.

4. MERCHANT TRADE

4.1

Commission on processing of Import and Export Leg of documents

Commission as applicable to export & import leg of transaction.

5. REMITTANCES

5.1

Inward/Remittances (Other than Exports)

Encashment of TTs / purchase of MTs / DDs in respect of which cover has been received in NOSTRO Account:

5.2

OUTWARD REMITTANCES (Other than Imports)

5.3

Export transactions (to be recovered manually)

a

Where pre shipment advance has been granted by our Bank against LC/Export order but the documents under the relative LC/Export orders are negotiated through another bank.

Commission in lieu of Exchange @ 0.10%

Min ₹ 2000/-

Max ₹ 25000/-

b

Expoprt bill sent for collection and the payment is received in Rupees through another bank in India

Commission in lieu of Exchange @ 0.10%

Min ₹ 2000/-

Max ₹ 25000/-

c

Where PCFC loan is utilized for payment of import bills (without reporting to Dealing Room)

Commission in lieu of Exchange @ 0.10%

Min ₹ 2000/-

Max ₹ 25000/-

d

Application to RBI/ECGC for extension of time for realization of Export proceeds beyond prescribed period (Submission of ETX Form)

₹ 1000/- per application

5.4

Import transactions (to be recovered manually)

a

In case of altering of tenor of the Bill of exchange

Appropriate additional usance charges (as per point no. 2.1) on extended tenor to be recovered as charges for issuance on Import Letter of Credit with minimum of ₹ 2500/-

b

For filing requests with other banks

₹ 1000/-

c

Commercial information on Indian Companies to Overseas Banks

₹ 1000/-

6. FORWARD CONTRACTS

6.1

Forward Contracts

7. CHARGES ON CAPITAL ACCOUNT TRANSACTIONS

7.1

Foreign Direct Investment

7.2

OVERSEAS DIRECT INVESTMENT (by Resident in Joint Venture/Wholly Owned Subsidiary aboard- Scrutiny/ Filing)

7.3

External Commercial Borrowing (ECB)

7.4

Liaison Office/Branch Office Of Foreign Entity In India (Set Up of LO/BO)

7.5

Project Exports Application For Processing By Bank/RBI

NOTE FOR PARA 7:

1. In case of delayed reporting of capital account transactions, additional 25% of normal schedule of charges shall be levied with Min. of ₹ 1000/-
2. For all capital account transaction stated above, 150% of the normal charges shall be applicable if the request received is under Approval Route.
3. Foreign Bank / Correspondent charges and out of pocket expenses (if any) shall be charged separately.

8. OTHER CHARGES

8.1

Swift Charges

8.2

Other Charges

9

VOSTRO/SRVA Accounts

9.1

General

Minimum Balance at the time of opening of New Accounts: ₹ 10.00 Lakhs

Minimum Monthly Average Balance in the Account: ₹ 5.00 lakhs

All other charges will be at par with current a/c charges except following charges.

9.2

Export Transactions handled through SRVA account in INR

(Except Nepal and Bhutan)

Our customer – @ 0.20% of transaction amount

Other Bank customer – @ 0.40% of transaction amount

9.3

Import Transactions handled through SRVA account in INR

(Except Nepal and Bhutan)

Our customer - @ 0.20% of transaction amount

Other Bank customer - @ 0.40% of transaction amount

9.4

Account Services

Statement of Account by Courier (on request)

₹ 2,500/- + Applicable GST + Courier Charges

Statement of Account through e-Mail (on request)

₹ 1,000/- + Applicable GST (per request)

Issuance of Duplicate Statement

₹ 1,000/- + Applicable GST (per request) + SWIFT / Courier Charges + Out of Pocket Expenses

Investigation / Queries

Up to Six months from the date of transaction

Waived

Over Six months but up to One year from the date of transaction

₹ 1,000/- + Applicable GST

Over One year from the date of transaction

₹ 2,500/- + Applicable GST

9.5

Payments (Incoming)

1. Credit into Vostro / SRVA for funding through following modes –

1. 1. Funding in freely convertible foreign currency
   2. Transfer from other SRVA for funding
   3. Transfer from SRVA of other Bank of same country
   4. Transfer of maturity proceeds of investment

Waived

2. Commercial Incoming Payments

1. 1. Transaction charges debited based on charge code – (SHA/OUR)

• Up to INR 1 Mio (10 Lakhs): ₹ 1,000/- + GST
• Above INR 1 Mio (10 Lakhs): ₹ 2,500/- + GST

1. 2. For Export – Transactions handled in INR (MT 103/202 Trade Transactions)

• Our Customer – @0.20% of transaction amount (Min. ₹1,000/- and Max. ₹3,00,000/-
• Other Bank Customer – @0.40% of transaction amount (Min. ₹2,500/- and Max. ₹10,00,000/-

9.6

Payments (outgoing)

1. Debit into Vostro / SRVA for own use

1. Repatriation in freely convertible currency
2. Transfer to other SRVA
3. Transfer to SRVA of same / other country
4. Transfer for permitted investments

• Up to INR 0.1 Mio (1 Lakh): ₹ 1,000/- + GST
• Above INR 0.1 Mio (1 Lakh): @ 1.65% of transaction amount (Minimum ₹ 2,000/- & Maximum ₹ 50,000/-) + GST

2. Commercial Outgoing Payments

For Import: Transactions handled in INR (MT 103/202 Trade Transactions)

• Our Customer – @0.20% of transaction amount (Min. ₹1,000/- and Max. ₹3,00,000/-
• Other Bank Customer – @0.40% of transaction amount (Min. ₹2,500/- and Max. ₹10,00,000/-

9.7

OTHERS

Courier Charges (Foreign)

₹ 2,000/- + GST

Courier Charges (Local)

₹ 200 + GST

SFMS Charges (Domestic Communication)

₹ 300/- + GST

Out of Pocket Expenses

On actual basis

Repair Payment instruction/ Cancellations

₹ 1,000/- + GST, per Repair / Cancellation

GST

Present rate of Tax – @18%

3. OTHER SERVICES FOR TRANSACTIONS IN INR

9.8

ADVISING – DOCUMENTARY CREDITS

Advising Commission (without engagement on our part) –

Our Bank Customers

₹ 1,000/- per LC

Other than our Bank Customers

₹ 2,000/- per LC

Advising Amendments (without engagement on our part) –

Our Bank Customers

₹ 500/- per amendment

Other than our Bank Customers

₹ 1,000/- per amendment

9.9

ADVISING - GUARANTEES

Advising Commission (without engagement on our part) –

Our Bank Customers

₹ 1,000/- per BG/SBLC

Other than our Bank Customers

₹ 2,000/- per BG/SBLC

Advising Amendments (without engagement on our part) –

Our Bank Customers

₹ 500/- per amendment

Other than our Bank Customers

₹ 1,000/- per amendment

GENERAL GUIDELINES / INSTRUCTIONS FOR RECOVERY OF CHARGES:

1. Charges mentioned in the chart are mandatory and shall be recovered in accordance with the prescribed scale laid down. No deviation is permissible unless approved by the competent authority as mentioned hereunder in the note.
2. Charges shall be recovered upfront, unless as specified in the chart itself for recovery of commission back ended or in instalments.
3. The branches shall not refund the commission collected by them on letter of credit, guarantees and other Forex transactions, unless otherwise provided in the schedule or approved by competent authority.
4. Out of pocket expenses, such as correspondent Bank charges, postage, courier, communication charges/SWIFT charges including expenses incurred to secure the bank’s and customer’s interest etc., shall be recovered from customers in respect of all foreign exchange transactions, in actual.
5. Stamp duty under Indian Stamp Act or Stamp Act of various states on Forex transactions, wherever applicable, shall be borne by the customer.
6. Besides the scales of charges, prescribed in the schedule, interest on outlay of fund shall be recovered from the customers on all Foreign Exchange transactions, wherever applicable.
7. The schedule of charges as per schedule shall also be applicable for transactions undertaken on behalf of overseas banks/ parties.
8. Forex transactions on account of staff members / retired staff members for personal purpose only may be allowed free of charges.
9. For calculation of commission quarter means ‘90 days’ and month means ‘30 days’.
10. In case of inward remittance, for credit to NRE/NRO/FCNR and FCRA accounts, no commission should be charged.
11. Special attention has been given on the foreign remittances made out of education loan for studies abroad. A NIL charges have been approved for such remittances to market education loan from our bank.