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What’s a Foreign Inward Remittance Certificate (FIRC) and how can I request one?

A Foreign Inward Remittance Certificate (FIRC) is a document that acts as proof of a foreign transfer to India. 

According to guidelines from the Reserve Bank of India (RBI) and letters circulated by FEDAI (Foreign Exchange Dealers Association in India), the following two documents can be issued by ‘A.D (Authorized Dealer) Category I’ banks in India as proof of foreign transfers to India.
 

Physical Foreign Inward Remittance Certificate (FIRC)


A physical FIRC may be issued only for inward remittances covering Foreign Direct Investment (FDI) / Foreign Institutional Investment (FII). Payments for these purposes are only allowed through banking channels as per RBI guidelines. This means we can't complete transfers for FDI/FII on your behalf, so a FIRC can’t be issued.
 

e-FIRC


According to the RBI, AD Category I banks must report all money transfers to India (inward remittances) to Export and Data Monitoring Systems (EDPMS). This includes any advances or outstanding transfers they've received for the export of goods or software. Banks that receive these kinds of transfers will issue an electronic FIRC to EDPMS when the exporter asks them to.

If your transfer falls into this category, it will be subject to EMPMS reporting. So please make sure you're in line with RBI regulations. You can check this with your bank (the one that received the transfer) and then apply for an e-FIRC with one of our partner banks (the one that processed your transfer). There are more details on how to do this below. 

If your transfer doesn’t  fall in either of these two categories above, you can apply for a Foreign Inward Remittance Advice (certificate of inward remittance) from the partner bank that processed your transfer. Advice is only available for businesses.
 

How to apply for advice from TransferWise’s partner banks


To apply for advice, please contact the banking partner that processed your transfer. We have two banking partners in India, Yes Bank and HDFC. You can tell which banking partner we used for your transfer by looking at your statement.

Transfers received via HDFC

Submit a request by posting a letter to the following address. 

Attention: HDFC Bank - Vostro CMS Team Lodha 
Lodha - I Think Techno Campus, 
Office Floor 3, Opp : Crompton Greaves limited, 
Next to Kanjurmarg Railway Station, 
Kanjurmarg East, Mumbai - 400 042.

You can see the relevant forms and instructions here.

If you have questions, please email vostro@hdfcbank.com or indialink.helpdesk@hdfcbank.com

Transfers received via YesBank

Submit a request by posting a letter to the following address. 

Attention: Mr. Nilanjan Sengupta
YES Bank Limited,
8th Floor, Indiabulls Finance Centre, Tower - 2,
Senapati Bapat Marg, Elphinstone Road,
Mumbai – 400 013

You can have a look examples of the letters before sending yours.

If you have questions, please email dlmuminrem@yesbank.in 

Please not export, import, trade, and business-related transfers to India are regulated under strict guidelines from the RBI and FEDAI. Please review these guidelines closely to better understand whether an FIRC can be issued for your transfer.

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