The Bank Remittance Letter is a crucial document in Indian banking operations, used whenever an account holder needs to initiate a formal fund transfer, especially for significant or international transactions. This document type is essential for ensuring compliance with Indian banking regulations, including FEMA and RBI guidelines, while providing a clear audit trail for financial transactions. A Bank Remittance Letter typically contains comprehensive details about the transfer, including sender and recipient information, transfer amount, purpose, and necessary regulatory declarations. It's particularly important for business transactions, international transfers, and situations requiring formal documentation of fund transfers. The document serves both as an authorization for the bank and as evidence of the transaction's legitimacy for regulatory compliance.
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1. Bank Branch Details: Complete details of the sending bank branch including IFSC code and branch address
2. Date and Reference Number: Current date and any reference numbers for tracking
3. Sender Information: Full name, account number, and contact details of the remitting party
4. Recipient Information: Complete beneficiary details including bank account number, bank name, and SWIFT code for international transfers
5. Transfer Details: Amount in figures and words, currency, and purpose of remittance
6. Declaration: Statement confirming the legitimate purpose of transfer and compliance with FEMA regulations
7. Authorization: Explicit authorization for the bank to process the transfer and debit the account
8. Signature: Space for account holder's signature and date
1. Intermediary Bank Details: Required when transfer involves an intermediary bank, including correspondent bank information
2. Special Instructions: Any specific handling instructions or requirements for the transfer
3. Exchange Rate Declaration: For foreign currency transfers, specification of exchange rate preferences or agreements
4. Recurring Transfer Instructions: Used when setting up a standing instruction for regular transfers
5. Purpose Code: For international transfers, specific purpose codes as per RBI guidelines
1. KYC Documents: Copies of required identity and address proof documents
2. Supporting Documents: Documents supporting the purpose of remittance (e.g., invoice, purchase order, etc.)
3. FEMA Declaration Form: Mandatory declaration form for foreign exchange transfers
4. Form A2: For foreign currency transfers above certain limits as per RBI guidelines
5. Tax Declaration: Forms related to tax implications of the transfer, if applicable
Relevant legal definitions
Remitter
Beneficiary
Remitting Bank
Beneficiary Bank
SWIFT Code
IFSC Code
Correspondent Bank
Remittance Amount
Value Date
Purpose Code
Exchange Rate
Transaction Reference Number
FEMA
RBI
Authorized Dealer
Nostro Account
Telegraphic Transfer
Bank Charges
KYC Documents
Form A2
LRS (Liberalised Remittance Scheme)
Base Currency
Quoted Currency
Current Account
Transfer Instructions
Beneficiary
Remitting Bank
Beneficiary Bank
SWIFT Code
IFSC Code
Correspondent Bank
Remittance Amount
Value Date
Purpose Code
Exchange Rate
Transaction Reference Number
FEMA
RBI
Authorized Dealer
Nostro Account
Telegraphic Transfer
Bank Charges
KYC Documents
Form A2
LRS (Liberalised Remittance Scheme)
Base Currency
Quoted Currency
Current Account
Transfer Instructions
Clauses
Transfer Authorization
Bank Charges
Exchange Rate
Declaration of Purpose
FEMA Compliance
Anti-Money Laundering Declaration
Transaction Details
Bank Instructions
Beneficiary Details
Authentication
Risk Disclaimer
Indemnity
Force Majeure
Regulatory Compliance
Processing Time
Cancellation Terms
Documentation Requirements
Verification and KYC
Liability Limitation
Governing Law
Bank Charges
Exchange Rate
Declaration of Purpose
FEMA Compliance
Anti-Money Laundering Declaration
Transaction Details
Bank Instructions
Beneficiary Details
Authentication
Risk Disclaimer
Indemnity
Force Majeure
Regulatory Compliance
Processing Time
Cancellation Terms
Documentation Requirements
Verification and KYC
Liability Limitation
Governing Law
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Information Technology
Retail
Wholesale
Professional Services
Healthcare
Education
Real Estate
Import/Export
Consulting
Relevant Teams
Finance
Treasury
Accounts Payable
International Trade
Compliance
Banking Operations
Payment Operations
Trade Finance
Financial Control
Accounts
Relevant Roles
Finance Manager
Treasury Manager
Accounts Payable Manager
Chief Financial Officer
Banking Operations Manager
International Trade Manager
Compliance Officer
Financial Controller
Accounts Manager
Banking Relationship Manager
Foreign Exchange Manager
Payment Operations Manager
Trade Finance Specialist
Finance Director
Banking Officer
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